New Delhi: Information Technology spending in India is projected to total $71.5 billion in 2013, a 7.7 percent increase from the $66.4 billion forecast for 2012, a global research firm said Wednesday.
The telecom market is the largest user of IT in India. Its IT spending is forecast to reach $47.8 billion in 2013.
The computing hardware market in India is projected to reach $9.5 billion in 2013, and the software spending will total nearly $4.0 billion, said research firm Gartner which delivers technology research to global technology business leaders to make informed decisions on key initiatives.
Software will record the strongest revenue growth at 15 percent, it said.
The telecom segment, which accounts for 67 percent of the Indian ICT market, is set to grow at 7 percent revenue growth in 2013.
“Businesses are increasingly looking to IT to help support the challenges of enhancing customer support, supply chain management, optimizing business processes or helping drive innovation in the business,” said Peter Sondergaard, senior vice president and global head of research at Gartner while providing the latest outlook for the IT industry here.
“India like other emerging markets continues exercising strong momentum despite inflationary pressures and appreciation of local currencies, which are expected in rising economies,” he added.