India's Tech Revolution Fuels the Rise of the Managed Services Industry India's digital revolution has ignited a vibrant future for its IT and managed services industry. This dynamic sector is perfectly positioned to capitalise on the global demand and India's managed services industry stands ready to deliver

In the early days, the term "Managed Services" signified a cost-arbitrage model for companies to outsource non-core functions. However, Managed Services are now bringing innovation in all areas including full-stack development and business/process transformation. It is no longer limited to typical maintenance work but also ensures stability/ innovation in processes. While conglomerates chase growth, a CEO's primary responsibility is to balance that ambition with stable operations and minimal operating costs. By leveraging the latest innovation offered by managed services, corporations can free up resources and focus on their core areas.

According to Gartner, the global end-user spending on IT services, including application development managed services, business process services, consulting, hardware, network and infrastructure support, etc. was roughly US$1.4 Trillion by the end of 2023, growing at a CAGR of 10.5 oer cent.

India's rapid adoption of emerging tech is fueling an explosion in the managed services market. Companies, eager to leverage cloud computing, AI, and improved solutions, are seeking reliable partners to manage the complexity. With a massive talent pool of STEM graduates, dynamic IT infrastructure, and supportive policies, the world is looking towards India to serve as a primary player in this space.

India's arduous journey to becoming a global tech giant is the result of decades of investment of time, money, and energy into meticulously planning and taking continuous strides. Companies from around the world are shifting significant parts of their IT and business spend to India to drive cost optimisation. According to Nasscom, currently India has more than 1580 GCCs and this number is only expected to increase. The pandemic acted as a catalyst for a revolution in managed IT services. Agility, resilience, and enhanced cybersecurity became critical overnight and the rise in remote work led to a surge in demand for managed services. Cybersecurity concerns also skyrocketed both during and after the pandemic and innovation in data handling was imperative.

Consequently, many companies are pivoting towards managed service providers to strengthen their computing power, data analysis, and cybersecurity measures. Consequently, many companies are pivoting towards managed service providers to strengthen their computing power, data analysis, and cybersecurity measures.

Another factor surrounding the growth of managed services in India is government initiatives like Digital India. With more initiatives, digital technologies are being adopted across various sectors and industries, creating further demand for managed services.

Additionally, the government has implemented various policies, tax incentives, subsidies, data protection and privacy rules, and regulatory norms, to make India a more favorable and attractive destination for the global investors. Furthermore, India's vast network of IT parks, special economic zones (SEZs), the growth of tier 2 and 3 cities, provides a conducive environment for the growth of managed services providers.

In conclusion, India's digital revolution has ignited a vibrant future for its IT and managed services industry. This dynamic sector is perfectly positioned to capitalise on the global demand and India's managed services industry stands ready to deliver.