Tech giant EMC to invest heavily in India: COO Dmitri Chen

NEWS FEED: FIRSTSPOT

http://www.firstpost.com/business/tech-giant-emc-invest-heavily-india-coo-dmitri-chen-2235936.html

To tap the huge growth opportunities available in India, US-based technology giant EMC is looking to invest heavily in the country, which is also its fastest growing market.

"Because of the huge opportunities in India, we will be investing heavily there. We have spent a lot of time and resources there to tap its huge potential," EMC's Chief Operating Officer and Vice President, Speciality Sales, Asia Pacific and Japan, Dmitri Chen told PTI.

He said India is a strong thinkpad for the company where it has created so many centres of excellence.

"India is a very unique opportunity in my opinion. India from our worldwide standpoint is the fastest growing market. It will accelerate and the opportunity in IT is accelerating," Chen added.

Lauding Narendra Modi-led government's announcements on Digital India and smart cities, Chen said these offer huge investment opportunities for the company.

"The things that India does today will truly affect where India will be on the world map 50 years from now. Good news for it is a lot of infrastructure can be modernised faster and it can be done in a very efficient way," he added.

Chen said the company's latest products like hybrid cloud can be customised as per the government's needs as EMC can become a catalyst in India's growth story.

The government sector contributes about 20-25 per cent of the storage solution provider's revenue in India.

"A lot of infrastructure is still evolving in India. There is intense focus on software for India," he said adding, EMC is eyeing huge opportunity in building sound IT foundation for next generation.

He added that even B2B space is massive in India and from software development point of view too and India offers great opportunities.

"The world of big data today is about $ 21 billion and is growing at a compound rate of 26 per cent YoY which makes it $ 43 billion in three years. Fifty one per cent of that is infrastructure and the opportunity is massive," he added.

Chen said infrastructure is critical to India and the government has an agenda to make investments in this space.

The US-based firm registered revenues of $ 24.4 billion in 2014. It employs about 60,000 people worldwide.

EMC started operations in India in October 2000 and has since scaled up its presence. For FY 2012-13 EMC India revenue stood at Rs 1,847 crore as per DQ Top 20 and is ranked 49th in the top 100 IT companies in India.

The company has so far invested $ 2 billion in India in the past five years mainly on expansion and marketing.