India: IBM’s fastest growing market!

US based tech giants IBM has reported that India has become one of their fastest growing markets worldwide. A senior IBM executive said in a statement that the company increased their revenues from the Indian market by around 55% last year.

The company has focused on industries like banking and government initiatives here in India and seems to have benefited a lot from their recent efforts. Shanker Annaswamy, managing director of IBM India said in a statement on their improving performance: “Growth came from all our businesses, with services also a significant component”.

IBM had earlier reported increased revenues by around 45% in 2004. IBM has made huge progress in India from the services markets through large outsourcing contracts. The company operates in India from around 40 cities in India and has about 2,500 partners.

Amitabh Ray, director for global delivery at IBM Global Services India added in a statement: “India is the largest hub for services for IBM, and we do work for over 250 customers from India.”

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