India is making a strong push to improve their global positioning in key business sectors, and a recent endorsement from Microsoft is creating huge promise for the country’s economic future.
According to Gadgets 360, software giant Microsoft announced on Thursday that it will be partnering with the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to provide over 200,000 small and medium businesses throughout the country with cloud computing services.
Cloud computing is the practice of using a network of remote services to store and manage data, as opposed to local servers and/or personal computers. The partnership is intended to spur the revenue growth of India’s small and medium businesses (SMBs) as the country places a stronger emphasis on manufacturing and technology.
“Cloud computing will open more avenues for SMBs and connect them with their present and prospective customers across the country, as they play a significant role in the economy,” Microsoft’s India subsidiary said in a statement.
Forbes magazine recently reported that four out of five small businesses will soon rely on cloud computing due to the efficiency, accessibility, and cost-effectiveness of this technology. While India may be a little late to the party, Microsoft believes that this new investment is exactly what Indian SMBs need to reach their lofty goals.
“Among SMBs, primary workloads are productivity, Internet connectivity, mail and messaging, business applications, collaboration, cloud storage and cloud platform. In association with FKCCI, we are able to reach thousands of SMBs and democratize IT for small businesses while providing enterprise-class solutions,” said Microsoft India general manager Meetul Patel.
The news is no surprise for those who have been tracking India’s effort to spur economic growth through business development. According to CNBC, the country recently launched their Make in India initiative, a program designed to attract fresh foreign investment and create more jobs.
In their statement, Microsoft added that SMBs in India adopting IT tools like cloud computing will create an opportunity for the sector to grow revenues by about $56 billion, creating over 1.1 million new jobs in the process.