Top Indian companies spent Rs 7,123 crore on IT systems in 2006-07, a growth of 27% over the previous year, with PSUs forming a major part of the top 50 spenders, according to a survey.
The Dataquest-IDC MegaSpenders '07 survey said the growth rate of IT spend by top enterprises is expected to be 26% in 2007-08, taking the combined spend to Rs 8,974 crore.
This marginal decline in growth rate is due to reduction in costs of IT inputs, both software and hardware, as the nature and pattern of IT adoption becomes more sophisticated.
Interestingly, more than half the top 50 spenders on IT during 2006-07 were PSUs, breaking the myth that modernisation processes such as automation and IT deployment can take place only after privatisation.
Banking Financial Services and Insurance (BFSI) and Telecom sectors emerged as the biggest spenders.
According to Prasanto K Roy, chief editor, Dataquest, "The survey points to a healthy growth in IT investments beyond the banking, financial services and telecom sectors. Utilities, automobiles, and were equally aggressive in investing in IT.”
PTI
Top Indian companies spent Rs 7,123 crore on IT systems in 2006-07, a growth of 27% over the previous year, with PSUs forming a major part of the top 50 spenders, according to a survey.
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