Oracle to double down on India as key growth market in 2022

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By Nishant Arora
New Delhi, Nov 2 |
Cloud major Oracle, which has consistently clocked high double-digit growth in India over the last 4-5 years, is set to further double down on the country as a key growth market in 2022, its top-most India executive said on Tuesday.

India was one of the first few countries where Oracle opened two local, next-generation cloud regions (Mumbai and Hyderabad) in quick succession.

“Both these cloud regions are seeing healthy cloud consumption and continued growth. On average, Indian organisations using Oracle Cloud Infrastructure (OCI) are reporting 30-40 per cent improvement in application performance,” Shailender Kumar, Regional Managing Director, Oracle India, told IANS.

With OCI, the Indian firms are reporting time savings to the tune of 30 per cent, with faster migration and improved data management, resulting in faster reporting and analytics, particularly for some of the long-running and time-consuming reports/procedures.

“Most of them are also reporting 30-40 per cent upfront cost savings. India is one of our key and fastest growth regions globally,” Kumar said.

According to him, the appetite for adopting a well-integrated and balanced hybrid cloud strategy is definitely on the rise in the country.

While enterprises are leaning on their technology providers to figure out how to extract the maximum value and life from their already existing technology investments, small and medium businesses (SMBs) are keen to accelerate growth recovery and put their business expansion plans back on track.

Startups too want to create a faster, shorter runway for innovation and scale.

“In 2022, with economic recovery gaining momentum, hybrid cloud adoption will gain further pace,a Kumar told IANS.

Oracle has always been bullish on India’s startup ecosystem.

The ‘Oracle for Startups’ programme was first piloted in Bengaluru before it was scaled globally.

“Many startups are parting ways with their cloud providers and are turning to our secure, next-generation Oracle cloud infrastructure (OCI). Faster innovation cycles, reliability, security, ease-of-use, significant cost savings and high performance computing capabilities are cited as key reasons for moving to OCI,” the company executive informed.

Some of the startups who moved to Oracle Cloud include GridMarkets, a cloud rendering and simulation service company; conversational AI platform Gnani.ai; online education portal Habilelabs; cognitive intelligence and AI platform DataKlout; data analytics company SatSure and TensorGo, a leading company in cognitive business space.

Oracle recently announced the expansion of its global cloud footprint to meet continued triple-digit growth.

The OCI now has 30 cloud regions worldwide — by far one of the fastest expansions by any major cloud provider.

“We are also using the principles of modern cloud economics to help enterprises understand the benefits of using our next-generation cloud infrastructure services so they can extract more value from their cloud usage,” Kumar noted.

“I am more excited about what lies ahead. We will be further doubling down on India as a key growth market. Based on growing demand, we will actively look at further expanding our cloud presence in the region,a he added.

(Nishant Arora can be reached at nishant.a@ians.in)

Source: IANS

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Share Market Closing Bell: Market ends marginally lower amid volatility

Share Market Closing Bell: Market ends marginally lower amid volatility

Dalal Street witnessed tug of war between bulls and bears as Sensex settled at 54208.53 losing 109 points or 0.20 percent and Nifty ended at 16240.30 with loss of 19 points. Bank nifty closed the session at 34163.70 levels with loss of 138 point after erasing early session gain.

BSE Midcap and BSE Small cap indices turned flat after rising around half a percent each. On the sectorial front, Nifty Pharma and FMCG have contributed a percent each on a closing basis. On the flip side Nifty Realty, Nifty PSE ended with losses of 1.75 percent and 1.73 respectively. In Nifty stocks, TATACONSUM, CIPLA and ADANI PORT were the top gainers while POWERGRID, BPCL and TECHM were the prime laggards.

In the daily chart Nifty has ended with a bearish candle. However 16200 levels are protected throughout the day. Index might face high volatility on weekly expiry day. Riding against the trend may not be beneficial for short term traders. According to volume profile 16100 and 16000 may act as immediate support.

Indicators such as MACD and RSI are still struggling to overcome from oversold zone in the daily time frame. From the time cycle prospect Index would remain highly volatile till 27th May of this month. Bollinger band indicates 16650 would remain strong resistance in coming days. On the other hand, Bank nifty has support at 33400 levels while resistance at 35000 levels.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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