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Tit-Bit
Enterprise IT Spending to grow
IT spending by banking and securities firms in India will reach USD 7.8 billion in 2017 , an 8.6 per cent rise from 2016 , says Gartner , Inc .
This forecast provides total enterprise IT spending for internal spending and spending on data center , devices , software , IT services and telecom services , Information technology research and advisory company Gartner said .
IT services and software will both be the fastest growing segments at 12.6 per cent in 2017 , as firms in the banking and securities industry invest more in applications and business processes , specifically in business process outsourcing ( BPO ). The focus is on integrating the digital framework firmly into the banking and securities industry in India ,
The banking and securities industry is increasingly working towards investing in core banking solutions to transform the legacy systems .
Additionally , we are also seeing a lot of investment from the banks to leverage digital technologies to enhance the customer facing platforms ," Principal Research analyst atGartner , Moutusi Sau said .
The Gartner report , " Forecast : Enterprise IT Spending for the Banking and Securities Market , Worldwide , 2014-2020 , 3Q16 Update ," provides information on total enterprise IT spending , including internal spending and multiple lines of detail surrounding spending on data center , devices , software , IT services and telecom services for 43 countries within 11 .
Low broadband penetration in the country is a matter of concern and the government needs to do a lot more work in the field to go up in the global ladder , Telecom Regulatory Authority of India ( Trai ) chairperson RS Sharma said on Wednesday .
“ One area wherein we need to do a lot of work is broadband connectivity . A few days back I was attending an ITU ( International Telecommunication Union ) event and a whitepaper on broadband was presented there . According to it broadband penetration in India is only 7 %. It is a matter of concern ,” Sharma said .
He was addressing the 12th National Summit e-Governance and Digital India organised by Assocham .
Sharma said the report stated that India is even behind countries like Thailand , Singapore and Malaysia in broadband penetration .
“ We have given recommendations to the government on using cable television network for broadband delivery . If it is done then our ranking will go up . In many developed countries like the US and Europe nearly 50-60 % broadband comes from Digital Cable TV ,” Sharma added .
November 2016 8 www . smartgovernance . in