NetApp Sees India as a 'Fair Market' with Big Growth Potential
By Rediff Money Desk, LASVEGAS Nov 23, 2023 14:47
NetApp CEO George Kurian highlights India's open market and skilled workforce, positioning it as a key growth area for the company. Learn more about their plans for the region.
Las Vegas, Nov 23 (PTI) Global software company NetApp feels that the lack of domestic vendors makes the Indian market an open one where anyone can compete on a fair basis, as per a top company official.
The San Jose, US-headquartered company wants to make India the biggest market in Asia in the medium term by overtaking Japan.
Its Kerala-born chief executive George Kurian said Asia is performing better than the rest of world, and the company will be targeting to increase the share of revenues from the continent to 20 per cent from the present 18 per cent.
Size and scope of the Indian market is strong, it is the fastest growing large GDP in the world and there is no domestic vendor, so the Indian market is open for everybody to compete on a fair basis. That's why we believe it's a good opportunity, Kurian told PTI on the sidelines of the company's annual event Insight' here.
He said an increasing number of multinationals are putting up their technology centres in India, and many American companies are making their decisions from the units there.
Kurian said the key aspect which draws companies from across the world to India is the talent base there, and added that NetApp alone employs over 3,000 people locally.
Without sharing an outlook on where he sees the staffing in India going ahead, Kurian hinted that it will keep going up because of the work that happens out of the country.
He said NetApp looks at India both as a market for its products and services, and also as a hub to develop solutions for the world.
From a market perspective, it focuses on the banking, financial services and insurance industry participants along with other sectors, especially serving their needs around data storage.
Kurian said it serves multinationals having a presence in India, and also the government and state-owned entities.
The CEO said NetApp is number one in the flash storage market in India, which is also the fastest growing part of the storage market.
We intend to repeat that multiple quarters in a row and establish our leadership going forward, he said.
When asked if local regulations like insistence on data localisation are helping the business in India, Kurian said data sovereignty and concerns surrounding privacy are a worldwide phenomenon.
To a question on the challenges posed from a security perspective when faced with challenges from sophisticated state actors, Kurian said for a software company the motives -whether ransom or otherwise - do not matter, and the core part of the service continues to be security.
The company also depends on Israel for development work, Kurian said, adding that it is too early to say if the Israel-Hamas conflict will have any advantage for its India presence.
Our priority is to make sure that the employees are safe and secure, communities are supported. Israel will continue to be a strong development centre for us. We have no plans to move away from that, he said. PTI AA
(The correspondent attended the conference on an invite from Netapp)
The San Jose, US-headquartered company wants to make India the biggest market in Asia in the medium term by overtaking Japan.
Its Kerala-born chief executive George Kurian said Asia is performing better than the rest of world, and the company will be targeting to increase the share of revenues from the continent to 20 per cent from the present 18 per cent.
Size and scope of the Indian market is strong, it is the fastest growing large GDP in the world and there is no domestic vendor, so the Indian market is open for everybody to compete on a fair basis. That's why we believe it's a good opportunity, Kurian told PTI on the sidelines of the company's annual event Insight' here.
He said an increasing number of multinationals are putting up their technology centres in India, and many American companies are making their decisions from the units there.
Kurian said the key aspect which draws companies from across the world to India is the talent base there, and added that NetApp alone employs over 3,000 people locally.
Without sharing an outlook on where he sees the staffing in India going ahead, Kurian hinted that it will keep going up because of the work that happens out of the country.
He said NetApp looks at India both as a market for its products and services, and also as a hub to develop solutions for the world.
From a market perspective, it focuses on the banking, financial services and insurance industry participants along with other sectors, especially serving their needs around data storage.
Kurian said it serves multinationals having a presence in India, and also the government and state-owned entities.
The CEO said NetApp is number one in the flash storage market in India, which is also the fastest growing part of the storage market.
We intend to repeat that multiple quarters in a row and establish our leadership going forward, he said.
When asked if local regulations like insistence on data localisation are helping the business in India, Kurian said data sovereignty and concerns surrounding privacy are a worldwide phenomenon.
To a question on the challenges posed from a security perspective when faced with challenges from sophisticated state actors, Kurian said for a software company the motives -whether ransom or otherwise - do not matter, and the core part of the service continues to be security.
The company also depends on Israel for development work, Kurian said, adding that it is too early to say if the Israel-Hamas conflict will have any advantage for its India presence.
Our priority is to make sure that the employees are safe and secure, communities are supported. Israel will continue to be a strong development centre for us. We have no plans to move away from that, he said. PTI AA
(The correspondent attended the conference on an invite from Netapp)
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.80 ( -0.71)
- 44492337
- G V Films
- 0.94 (+ 9.30)
- 37404318
- Jaiprakash Power Ven
- 19.44 ( -3.38)
- 30530141
- Spicejet Ltd.
- 62.79 ( -4.25)
- 22824171
- Srestha Finvest
- 0.89 (+ 4.71)
- 21696619
MORE NEWS
Golden Farms: Online Marketplace for Farm...
Safex Chemicals-backed AgCare Technologies launches 'Golden Farms', an online...
Areca & Coconut Prices in Mangaluru - Oct 5
Get the latest areca and coconut prices in Mangaluru for October 5th. Find out the...
Road Logistics Industry to Grow 6-9% in FY25: Icra
India's road logistics sector is projected to see a revenue growth of up to 9% in FY25,...