Zinnov has released a report titled “IT priorities of Indian CIOs for FY2013-14” highlighting key insights from over 50 key IT decision makers from across industries like Banking, Financial Services, Insurance, Manufacturing, Healthcare & Pharmaceuticals, Retail, Travel & logistics and others.
Top 5 priorities for IT Investments for CIOs in FY2013-14 would be Business Analytics, Virtualization & Cloud, Enterprise Mobility, Application Software and Consolidation of Solutions.
The Zinnov study analyzed preferences of CIOs and their priorities for IT investments on various parameters such as verticals of investment, size of enterprises, and the budgets on outsourcing for the year 2013-2014 and found some interesting insights. According to the study, CIOs in India are expected to increase their IT investments at an average of 20% in FY2013-14 as compared to FY2012-13. Verticals such as Manufacturing, Telecom, Retail, Healthcare and Pharmaceutical will be the key verticals in terms of IT investments in FY2013-14. Manufacturing sector is expected to witness a rise of 29% in absolute IT budget for 2013- 14, followed by Telecom and Retail with an approximate increase of 26% and 18% respectively.
Praveen Bhadada, Director-Market Expansion, Zinnov, said, “With US$30 Billion already in IT investments in India, this is a very positive sentiment coming out from Indian IT decision makers. The last 2 years have been specifically tough for the domestic IT market and IT vendors would now be eagerly looking for a promising FY2013-14. India is now starting to gain strategic importance as a market for IT solutions globally and we believe that IT vendors would be able to do better business in the country with the macro-economic environment slowly improving as well.
