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Banks largest spenders on IT in 2006: Nasscom

Banks largest spenders on IT in 2006: Nasscom
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First Published: Mon, Jun 25 2007. 02 39 PM IST
PTI
New Delhi: Banking and finance sector was the highest average spender on information technology services in 2006 and is expected to retain the edge this year as well, a Nasscom survey said on 25 June.
The finance sector was followed by energy and utility segment. The rate of increase in the average spending in each of these verticals is expected to be 12-27%, making them the most likely highest spending sectors in 2007 as well, the survey said.
The third sector projected to see a considerable hike in IT spend was the tourism and hospitality industry. The sector’s Rs18 crore IT spend last year was projected to grow 13%, placing it among the highest tech-spenders in India in 2007.
Nasscom’s ‘Tracking of IT adoption study 2006’ released on 25 June, awarded the Indian Railways with IT Transformation Award for pioneering use of technology.
“The Indian Railways is an extraordinary example of a turnaround story, and their plans of public private partnerships for IT makes this a challenging and exciting opportunity for IT companies,” Nasscom president Kiran Karnik said.
The year 2006 was a great year for the domestic IT market which saw balanced growth across hardware, software and services segment. The findings indicate that the average spending is on the rise and the sectors leading are BFSI, Energy and Utility and Tourism and Hospitality sector", he said.
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First Published: Mon, Jun 25 2007. 02 39 PM IST
More Topics: Nasscom | IT | Banks | Technology | Tech News |