Oracle India is seeing a strong growth momentum in India with demand coming in from across market segments, said Srikanth Doranadula, Group Vice President, Technology and Systems, Oracle India. 

Doranadula told businessline, “India is seeing a strong growth momentum, and customers are reaching out for many products. Although the cloud business has been the primary growth driver, momentum has picked up across SaaS, databases, and systems.”

The company said that it has doubled its customer base in recent years to 20,000. Its cloud technology unit specifically is growing by 100 per cent. The technology cloud consumption grew by 125 per cent YoY and 66 per cent of customers are expanding consumption.

Oracle is now seeing demand arising from various industry verticals in India, across the sectors of Banking, Financial Services and Insurance(BFSI), manufacturing, telecom, education, startups, and Tier-1 and Tier-2 markets. Many customers like IFFCO and Manappuram have shut down their data centers and moving critical applications and workloads to Oracle Cloud Infrastructure (OCI), he said. 

The company has also developed a significant partner ecosystem in the country as it works with 600 partners in the region. “Partners are an extended arm from the market perspective and have been our backbone. Oracle has various partners inclusive of large-size partners, mid-market partners, ISP partners, and cloud specialists,” Doranadula said.

Multi-cloud adoption

Oracle is also betting heavily on the rising trend of multi-cloud adoption. A report by the company showed that 98 per cent of Indian enterprises using the public cloud have adopted a multi-cloud infrastructure provider strategy. Doranadula said, “As cloud adoption has evolved, customers have realized that the one size fits all approach won’t work and there would be the need for multiple workloads. Hence, as they move forward, the multi-cloud approach is here to stay” 

He further said customers are currently prioritizing agile architecture and innovation. They are also looking at better efficiency, optimization, and cost-effectiveness. Talking about the effect of macroeconomic headwinds on customer spending, he said that the company is having more technical discussions and customers are still investing in necessary areas.

Oracle has two cloud regions in India - Mumbai and Hyderabad - and employs 45,000 professionals across business, support and development in the region.