The report states such adoption could add 14 million direct and indirect employment opportunities. At 44% CAGR (2016-2021E), the Indian cloud market has outpaced the global market in terms of growth rate, with factors such as the growing digital population, inflow of investments, digitisation of enterprises, and favourable government policies accelerating India’s cloud growth.
“Cloud adoption brings immense potential across multiple facets such as economic growth, digital inclusion, employment, and global technology edge. For India, cloud computing has the potential to transform the economy and make it more resilient and inclusive,” said Debjani Ghosh, President Nasscom.
Ghosh said large-scale adoption of cloud and cloud-based services will require multi-stakeholder collaboration to address mindset challenges and perceptions in cloud adoption, incentivise small and medium businesses (SMBs) to transition to cloud, scale talent through re-skilling and up-skilling programs, and amend cloud-related policies to ease cloud deployments.
While India is still at a nascent stage of cloud adoption as compared to mature markets, cloud adoption has played a pivotal role in helping Indian businesses and the government accelerate their digital transformation through infrastructure, platform, and software solutions.
Barriers to cloud adoption such as limited understanding of its features and benefits, integration of legacy systems and migration, and the lack of in-house capabilities may slow down growth.
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The report also cautioned about the future trajectory stating India might lose about $118 billion in GDP contribution and five million job opportunities by 2026 if businesses and government were late to cloud adoption.
Further, with global players heading towards new systems like 3D printing, IoT, and robotic automation, slow or low adoption of cloud technologies may result in Indian industries losing their competitive edge.
“Cloud computing has proven to be the foundation for digital transformation, technology-led innovation, business growth, and positive social impact at scale in India. The rise of SaaS companies and startup unicorns, growth in financial inclusion, and innovations in Edtech to bridge skilling gaps are just a few examples. These success stories are emboldening the potential of a digital India,” said Rahul Sharma, president, AWS India and South Asia (Amazon Internet Services) WWPS.
