Political and social unrest in parts of West Asia could be a boon for ICT companies as it may force the local governments to spend more on e-governance to deliver better services to the citizens, according to a senior Mahindra Satyam official.
Mr Bobby Gupta, Vice-President and Head, Middle East and North Africa (MENA) region, Satyam, said the company is targeting to achieve 100 per cent revenue growth from the region this fiscal.
Mahindra Satyam’s revenues from MENA region stood at approximately $56 million last fiscal.
“Unrest has, in a way, increased government spending on key programmes to deliver better services to citizens. In a way, it is good for all ICT companies. Unrest is limited to Egypt, Libya and Syria. (In) All these countries we have a limited exposure. We are focusing upon large markets such as Saudi Arabia, Qatar and UAE,” Mr Gupta told PTI.
He said government spending on much needed e-government programmes, faster adoption of shared services model, and increased spend in oil and natural gas companies would be the growth drivers for the company in the region.
“MENA region contributes around 5 per cent of our global revenue...We are targeting to grow at 100 per cent from MENA region,” he said.
Mahindra Satyam has around 80 customers in the region, of which 72 are from gulf countries. The company added six new clients from the region and 12 clients globally in the fourth quarter.