By Sudhir Chowdhary
The Indian technology landscape is experiencing a period of exciting growth, fueled by a robust digital agenda and a surge in cloud adoption. In this dynamic environment, Oracle is soaring high, leveraging its cloud solutions to empower businesses across diverse industries and drive meaningful transformations. The numbers speak for themselves. Oracle Cloud in India has witnessed a phenomenal 100% year-over-year growth in consumption during FY23, with cloud renewal rates exceeding 74%. Q2FY24 saw a further 50% y-o-y jump in consumption, highlighting the increasing acceptance and trust Indian businesses are placing in Oracle’s cloud offerings. The company operates on a fiscal year from June to May.
Leading corporation across diverse industries are embracing Oracle Cloud to accelerate their digital journeys. Notable wins include CRIF High Mark, Max Life Insurance, Tata Motors, Kotak Mahindra Bank, Apollo Tyres, Fortis Healthcare, and many more. “Oracle through its Oracle Cloud Infrastructure (OCI), Oracle Cloud Applications and Industries solutions portfolio is playing a key role in driving digital transformation in India,” said Shailender Kumar, senior vice-president and regional managing director, Oracle India and NetSuite JAPAC.
“While traditionally dominant sectors like BFSI, telecom, and the public sector continue to grow, healthcare, manufacturing, education and other emerging sectors are also leveraging the Oracle Cloud, giving the company diverse growth vectors,” Kumar told FE at the CloudWorld event in Mumbai. “Our SMB business has witnessed over 70% y-o-y consistent growth in consumption for the past three years.”
New growth drivers
According to Kumar, the growing demand for modernisation, the infusion of AI-powered technologies, emergence of multi-cloud and hybrid cloud environments, need for security of data and speed to market — are all contributing to heightened demand for Oracle Cloud. “Oracle’s India growth strategy aligns perfectly with the government’s vision of a digitally empowered nation. The company’s focus on AI-powered solutions, strategic partnerships, and industry-specific offerings positions it as a key player in India’s digital transformation journey,” he added.
Recognising the unique needs of different sectors, Oracle offers tailored cloud applications and industry solutions to each sector. For example, within the healthcare sector, Fusion Cloud Applications are equipping hospitals and clinics with streamlined operations and improved patient care capabilities. Similarly, ERP cloud solutions are fuelling growth in BFSI and manufacturing, demonstrating the adaptability of Oracle’s cloud offerings. “Our Fusion Cloud Applications business saw double-digit growth in H1FY24,” said Deepa Param Singhal, VP, Cloud Applications, Oracle India.
A pro-growth digital agenda
“Cloud, generative AI and security are driving demand in the country,” said Srikanth Doranadula, the company’s group VP for technology and systems in India. “While a hybrid cloud is the most sought-after choice for customers, generative AI will redefine work across functions. Our goal is to help customers leverage AI to optimise costs and performance and minimise the need for human action,” he added.
Suhail Ghai, chief digital and information officer, Max Life Insurance Company, said, “As we accelerate Max Life’s digital transformation journey, cloud technologies will be key to enhancing the performance and availability of our core applications for better customer experience.” Recently it also migrated its core insurance applications to Oracle Cloud.
Similarly, Yubi Group is using Oracle Cloud to run its co-lending platform across India. The tech unicorn’s platform handles more than 1 million daily average transactions, enabling more than 750 lenders to disburse joint loans worth $1.2 billion to more than one million customers across India since its inception. “As we gear up to increase our transaction volumes by over 10-fold in the upcoming months, we opted for Oracle Cloud for its dual-region cloud strategy. The transition has facilitated seamless scalability to better serve our customers across India, anytime,” said Gaurav Kumar, founder and CEO, Yubi Group of Companies.
