India mid-market thrive, despite tough times: IBM survey

According to a global study released by IBM, even in tough economic conditions, over 50 per cent of Indian mid market business decision makers (including COOs, CFOs, CIOs, etc) expect their IT budget to increase in 2009 versus last year.

The majority of Indian companies surveyed cited supply chain management (SCM), information management and security management as critical business priorities for improving business performance and efficiency. Most mid-size companies also recognise that a go-it-alone strategy may hinder their chances for success, and finding strategic IT partners who can collaborate with them to realise their vision is the key for success.

According to the study, even in today's unsettled global economy, mid-size companies continue to innovate and grow through technology investments in India. This is especially true in growth markets where IT budgets have been left largely intact.

The study is based on a study of about 1,879 business and IT executives at companies with between 100 and 1,000 employees across industries and in seventeen countries including India, Australia, Benelux, Brazil, Canada, China, Germany, France, Italy, Japan, Malaysia, Mexico, Russia, UK, and US.

''Midsize companies in India are constantly innovating while deploying resources to create sustainable business value. They are investing in the future – making changes and taking risks to survive, compete – and thrive,'' said Ramesh Narasimhan, director, general business, IBM India/South Asia.

''In today's globally integrated economy, it is necessary to enhance customer relationships and collaboration, and to create efficiencies across supply chains and core business operations.''