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Our Bureau

Mumbai, Feb. 6

Gartner Inc has said that India's spending on Information and Communication Technology (ICT) is growing at a five-year compounded annual growth rate (CAGR) of 14.8 per cent, the highest in APAC, and will exceed $36 billion (Rs 1,62,000 crore) by 2009.

Verticals such as communications, financial services are driving the India market, especially with their need for telecommunication equipment and services, followed by hardware, said a release from the firm. This increase is backed by rising expectations from businesses for IT to play a larger role in growth, efficiency and competitive advantage, the release added.

With competition and Indian companies going global, the Indian CIO's (Chief Information Officer) role has evolved and their priorities are similar to those of global CIOs, according to Gartner.

More Stories on : Outlook | Telecommunications | Hardware

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