India's Tech Market Will Grow 8% In 2014

Manish Bahl

Forrester just published its “India Tech Market Outlook: 2014” report; here’s a summary. We expect the Indian economy to start recovering from the tough situation it faced in 2013. It will start picking up (albeit at a slower rate) in 2014 thanks to good monsoons, an uptick in exports due to the weakening of the rupee, and huge infrastructure projects in public transportation, housing, agriculture, and farming  that we expect to take off once a new central government is in place. As a result, we’ve marginally increased our 2014 forecast from 7.4% to 8% in local currency. But the biggest threat to India’s economic outlook is political instability after the national elections, which could have a long-term economic impact.

The three most important highlights from the report:

  • Customer obsession will take center stage for technology spending. The increasing demands of digital customers are redefining business. Recent Forrsights data indicates that Indian CIOs’ top business priority is to address the rising expectations of customers and improve customer satisfaction; 87% consider it a high or critical priority. Business leaders want to leverage technology to better engage digitally enabled constituents, fundamentally shifting how firms interact with customers.
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