TECH BYTES-Monthly Tech Industry Bulletin August 2022

Highlights from NASSCOM Reports Released in July 2022

• Healthcare in India – Transforming through innovation
• Tech Start-ups Quarterly investment Factbook (Q2 CY22)
• Future of Cloud and Its Economic Impact: Opportunity for India
• Digital Enterprise Maturity 3.0- Boosting Business Resilience Through Technology
• The Future Is Electric- Discussion Paper on Electric vehicles in India

Key Insights

• State of Technology Adoption- 67% enterprises spend 4%+ of revenue on IT; ~33% earmark >30% of IT budgets for digital spend
• NASSCOM-Avasant Digital Enterprise Maturity model-Three dimensions, namely Digital Strategy and Investments, Technology Adoption, and Digital Talent and Five Maturity Categories: Beginner, Follower, Striver, Accelerator, and Transformer form the Digital Enterprise Maturity Index
• Key attributes of Transformers: Transformers are the most digitally mature organizations, 60%+ are large; midsized ones evolving fast, particularly in APAC, 38% spent >4% of FY2022 revenue on digital

• Hybrid Models of Work- Panellists: Randstand India, Zing HR, Adrenalin e Systems
• Future of Cloud and its Economic Impact: Opportunity for India- Panellists: Mahindra Group, Patanjali Ayurved Ltd, AWS India, Jio Platforms Ltd
• Software Testing - Trends & Opportunities-Panellists: ImpactQA, Cigniti Technologies, GS Lab

• Tech Trends: Q1FY23 results starts on a positive note, MNCs expanding to tier 2 cities
• ER&D Trends: Indian ER&D companies opening new innovation centers in global locations, assisting in digital transformation, jointly manufacturing systems and solutions with their partners to solve industry problems
• Tech Start-ups: two new unicorns added, incubator set up to help startups in tier-2/3 cities, Bihar Start-up policy