Oracle to invest $400 million in India

The Dollar Business Bureau

Global software firm Oracle announced $400 million investment in India for setting up a technology hub in Bengaluru. The IT major also plans to open nine incubation centers to mentor startups in the country. Ahead of unveiling Oracle CloudWorld Mumbai, the company on Wednesday announced the launch of its new service Oracle Cloud at Customer to offer easy transitioning of business critical applications to cloud.

Shailender Kumar, Managing Director of Oracle India said, “Oracle Cloud at Customer supports control over data, while facilitating data sovereignty and data residency requirements. This will be a game changer for us in India. The Indian market for cloud adoption is growing at 20 per cent but we have been growing 100 per cent. With this we think we will now grow much faster in India. Companies, especially those bound by the regulatory guidelines can now leverage the cloud and speed up their business transformation."

“While organisations in India are eager to move their enterprise workloads to the public cloud, many have been constrained by business, legislative and regulatory requirements,” said Shawn Price, Oracle’s Senior Vice President of Cloud. “With this launch, Oracle addresses these challenges so that organisations across industries can reap the performance, cost and innovation benefits of Oracle Public Cloud and run it wherever they want – in Oracle Cloud or their own data centre,” he added.

Appreciating the initiatives of the Government like Digital India and Startup India, he said that India is a potential frontrunner in cloud services in near future and this is the best time to invest in the country as it has the highest percentage of youth under the age of 30. ‘Oracle Startup Cloud Accelerator' in Bengaluru will be inaugurated by Oracle’s President of Product Development Thomas Kurian on April 8.

In the coming 12 months, the company will launch nine incubation centres in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada. The accelerator would mentor early-stage technology and tech-enabled startups working on creating innovative products and services at affordable costs, Kurian said without disclosing the investment details.

“Startups will have to apply to be a part of the accelerator and selected ones will undergo a six-month accelerator programme. The selected startups will be able to access Oracle's technology, including application and software through the Cloud, and can also connect with its designers and engineers,” he further said.