Software and Cloud major Oracle is expecting 10-fold growth in its India businesses by 2020 as the country holds an enormous market opportunity for its bouquet of Cloud services, a top company executive has said.
“Cloud will be an enormous market opportunity for us in India. My expectation is to become 10 times the size we are now in India by 2020. Actually for us, it is the single largest growth potential country,” Oracle Global CEO Safra Catz said at the ongoing Oracle OpenWorld (OOW) 2016 conference.
Catz, who visited India in April this year, promised $400 million worth of investments in the technology hub Bengaluru, with announcing the first “Oracle Startup Cloud Accelerator” in the city.
She also announced nine regional software and technology incubation centres across the country and an initiative to train over 500,000 Indian students every year.
“Oracle has been in India for over 25 years and during that time we’ve grown our investments tremendously. In fact, India now represents our second largest employee base outside of the US, with nearly 40,000 current employees and an additional 2,000 current job openings,” Catz had said.
The nine incubation centres will support entrepreneurship and development of innovative start-ups by providing software, tools and training to new software and technology companies utilizing Java and the Oracle platform.
These centres will be located in Bengaluru, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada.
Meghna Mittal / IANS