Opportunities Galore for New IBM CEO in India's Business Market
IBM has a long-standing history in India, with its first office established almost 26 years ago. Since then, the tech giant has grown significantly, becoming the company with the highest number of employees outside the US in India.
Last year, IBM made a significant move by acquiring Red Hat for $34 billion. This acquisition, which specialises in Linux operating systems, has engineering facilities in Pune and Bengaluru, is expected to allow for faster growth, particularly in India.
Red Hat, founded in 1993, is credited for bringing open source technologies like Linux, Kubernetes, Ansible, Java, and Ceph into the mainstream for enterprises in India. The company's contributions have played a crucial role in the mainstream adoption of open source technologies in the country.
Arvind Krishna, an alumnus of the Indian Institute of Technology, Kanpur (IITK), has been appointed as the CEO of IBM. Krishna, who guided IBM's strategy in areas such as AI, quantum computing, Blockchain, Cloud platform services, data-driven solutions, and nanotechnology during his tenure as IBM's Senior Vice President, will now focus on skilling and tapping the growing talent pool in new-age technologies.
Krishna aims to expand IBM's presence in India, particularly in R&D and innovation. He believes that there is a vast opportunity to leverage the true potential of India's talent pool and accelerate growth, not just in the Indian market, but also in the broader market.
India is already a key research and innovation hub for IBM. Today, IBM has four labs in India, serving as innovation centers for global product development, new services, and solutions.
The big data analytics sector in India is expected to witness an eight-fold growth to reach $16 billion by 2025 from the current level of $2 billion. According to the Broadband India Forum (BIF), IoT and AI-based applications will create over 28 lakh jobs in rural India over a period of 8 to 10 years with an annual value of Rs 60,000 crore.
The Senior Vice President and General Manager of Red Hat Inc stated that there is an opportunity to accelerate growth following the acquisition. With Krishna at the helm, IBM is poised to make significant strides in India, further cementing its position as a leading tech company in the country.
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