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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