Category — Information Technology
Citrix Systems, the Software maker based in California, has chosen Tuebora, a Bangalore-based startup for an investment. The technology provider is the second Indian venture to make it to the Citrix Startup Accelerator in Silicon Valley after Grexit, chosen in 2011.
Tuebora will now have access to Citrix products, partner channel and global customer base. Moreover, it will also acquire a seed capital of $250,000 and get office space in the Valley for the next 18 months. The market for identity and access governance solutions is growing at 30%-40% annually, according to research company Gartner. Tuebora, which has been running pilots for their technology at various companies, found numerous instances of undesired access granted to employees. The company, with headquarters in California now, has already filed three patents for its technology.
April 19, 2013 No Comments
According to the online e-commerce giant eBay, it expects that 12% of its sales will be coming from BRIC countries by 2015 in a global e-commerce market that will be worth $300 billion. Moreover, the company plans to lead a $50 million, Series C investment in Snapdeal (an online marketplace in India) with 20 million users. It will make eBay a minority shareholder in the company, and this Series C investment means that Snapdeal has now raised about $102 million in funding since 2010, with the previous two investments being $12 million in January 2011, and $40 million in September 2011.
This also represents one step further for eBay in India. Indeed, the company already has a full subsidiary in the country (eBay India), with 5 million users. In addition, eBay already has a strong business outside of the U.S. In its analyst day last week, Wendy Jones, VP of geographical expansion and cross border trade, noted that 61% of its Marketplace revenue comes from non-U.S. markets.
April 19, 2013 No Comments
HP has over 100,000 employees in India serving American and global needs. But it also has a vibrant India business.
Here are excerpts from an interview of Neelam Dhawan, head of Hewlett Packard’s personal computer business in India.
From a business perspective, what is working for HP in India?
India is a PC and printer market first. When I look at the top line, we do very well in the PC and printer business. We have more than 50-60 per cent market share and printers, maybe more. We have complete leadership position in the printer business. In PC, we lost market share sometime ago. We are No.1 by far in servers. Networking and storage, we are catching up. So when I look at it overall, we have a dominant share of each and every market we play in. Some of it gives us top line and some of it gives us gross margins. We are not a high-margin country as of now.
Lenovo has overtaken HP in the PC market. Your views?
In India, if you look at it, we are No. 1 where the consumer market is concerned. Business desktops are a concern – that’s where we lost the market share. The desktop market we lost to Lenovo. When I look at consumer laptop and business notebooks, we are number one. The desktop market is shrinking right now.
(Note: HP is an Amritt client. The information above is100% from public sources)
March 15, 2013 No Comments
According to the India Journal, Indian business magnate Mukesh Ambani is the 18th richest person in the world on the Bloomberg Billionaires Index, with a personal wealth of $24.7 billion in 2012. Ambani runs Reliance Industries Ltd, a India petrochemicals conglomerate with interests in retailing and some assets in the United States.
On the Bloomberg Billionaires Index, a ranking of the world’s 100 wealthiest individuals, there are three other billionaires of Indian origin, but the list changes daily
#39: Lakshmi Mittal – Mittal owns 38 percent of ArcelorMittal, the world’s biggest steelmaker. He is the Luxembourg-based company’s largest shareholder. The U.K. resident owns several London properties, including mansions on Billionaires Row near Kensington Palace. The Goldman Sachs director has a 34 percent stake in the Queens Park Rangers soccer team.
#48: Azim Premji – Premji is the chairman and largest shareholder of Bangalore-based Wipro, India’s third-biggest software exporter. The company employs more than 135,000 people and has annual revenue of more than $7.8 billion. He also owns a private equity fund, PremjiInvest, which manages his $1 billion personal portfolio, and interest in JM Financial.
#91: Shapoorji Pallonji Mistry, now an Irish national, who owns 18 percent of the Tata Sons holding company of the Tata Group. His son, Cyrus Mistry, also an Irish National, is now chairman of the Tata sons.
January 25, 2013 No Comments
Information Technology spending in India is projected to total $71.5 billion in 2013, a 7.7 percent increase from the $66.4 billion forecasted for 2012, according to Gartner, Inc. India like other emerging markets continues exercising strong momentum despite inflationary pressures and appreciation of local currencies, which are expected in rising economies.
The telecommunications market is the largest IT segment in India with IT spending forecast to reach $47.8 billion in 2013 (see Table 1), followed by the IT services market with spending of $10.3billion. The computing hardware market in India is projected to reach $9.5 billion in 2013, and software spending will total nearly $4.0 billion. Software will record the strongest revenue growth at 15 percent, IT services will grow at 12 percent. The telecom segment, which accounts for 67 percent of the Indian ICT market, is set to grow at 7 percent revenue growth in 2013:
|2012||2013||2014||2015||2016||CAGR (2012-2016) %|
What this means:
For foreign companies, which are more free to operate in India than in markets such as China, India will continue to be a good market.
October 11, 2012 No Comments