Tokyo-based global technology services provider NTT expects its combined business entity in India, which it aims to integrate by January 2021, will create one of the top three IT (information technology) service companies in the country, in terms of domestic revenue.
“Post integration, we are targeting a growth of at least 20% year-on-year, for the next three years, that’s a CAGR of close to 20%,” the combined entity’s leader designate, Sharad Sanghi told TechCircle in an interview on Wednesday.
NTT made public its aim to integrate its three key business units in India -- NTT India, NTT Com India, and Netmagic in early November.
In 2012, NTT acquired a majority stake in Sanghi-founded Netmagic. Late last year, when vendor consolidation across global IT services was in full swing, NTT announced that it will begin integrating its set of 31 companies to create an $11 billion entity with about 40,000 employees.
Sanghi’s career in the global IT services industry has spanned across 30 odd years, from the United States to India. He founded Netmagic in 1998 at a time when demand for cloud service providers in India was dramatically different than what it is now. Prior to Netmagic, he worked at companies such as Advantis, and Advanced Network and Services.
“There was a fear from a security perspective. That is all gone. Now you see banks not only adopt third-party data centre applications but also put some of their applications on the cloud… it used to be so difficult to convince enterprise clients to even outsource to an IT player in India. And now they are so comfortable with cloud and hybrid cloud products,” Sanghi said.
In the interview, Sanghi also walked TechCircle through the evolution of the data centres market in India.