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IBM expects $1 b revenue in India

NEW YORK: IT major IBM on Saturday said it expected revenue from Indian operations to touch $1 billion by the end of December, growing at a rate of 39 per cent now.

“We expect our revenues to reach $1 billion by the end of this calendar year, up from $700 million in 2006 driven by strong factors. In the first three quarters of the current financial, the company’s revenue has grown by over 39 per cent,” IBM Vice President (Financial Management) Jesse Green said here.

He said factors like competitive offerings, effective sales force, strong brand name, technology base along with the ability to offer hardware and software combination would contribute to the expected figure.

The $1 billion would include revenues from services and solutions provided by IBM to domestic clients and other global corporates operating in India along with total revenues of IBM Daksh, its business process outsourcing unit. Last year the company’s India revenue grew by 37 per cent as against 2005, while the CAGR from 2002 to 2006 was over 49 per cent.

IBM currently employs around 5,300 employees in India working at 35 centres for 2500 Indian business partners. — PTI

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