B2B Payments

EMC Bets On B2B In India

As EMC’s fastest-growing market, India has proven a lucrative area for the U.S.-based technology conglomerate. But, according to EMC Chief Operating Officer and Vice President of Specialty Sales of Asia Pacific and Japan Dmitri Chen, the company is readying to ramp up its efforts in the Asian country.

“Because of the huge opportunities in India, we will be investing heavily there,” Chen told reporters last week (May 9). “We have spent a lot of time and resources there to tap its huge potential.”

That potential includes a robust B2B market and an innovative Big Data environment, the executive added. The nation’s exploration of smart cities and the government’s embrace of technology make India a pioneer for many of the enterprise-focused developments EMC is working on today.

“The thing that India does today will truly affect where India will be on the world map 50 years from now,” Chen said. “Good news for it is a lot of infrastructure can be modernized faster and it can be done in a very different way.

EMC’s new hybrid cloud service, Chen said, could be particularly useful to India’s government operations, which amount to up to one-quarter of data storage solution providers’ revenue in the nation.

In addition to cloud computing, India is also a hot market for software solutions and B2B operations, the EMC executive said. Together, the market is prime to exploring Big Data and its impact on technology, business and government. The government began its first rollout phase of its digital procurement platform last month, for example. “The world of big data today is about $21 billion and is growing at a compound rate of 26 percent YoY,” he told reporters, “which makes it $43 billion in three years. Fifty-one percent of that is infrastructure and the opportunity is massive.”

Since EMC first launched operations in India in 2000, the company has invested significant funds in the nation, including $2 billion in the last five years alone. Reports did not indicate, however, exactly where EMC will invest new funding in India.

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