Oracle is seeing a high growth momentum in India for its cloud services, and will continue to clock 25 per cent quarter-on-quarter (q-o-q) growth. Oracle aims to be the preferred cloud provider for all organisations across various sectors in India, said Kapil Makhija, Vice-President, and Head, Technology Cloud, Oracle India.
Globally, Oracle clocked $11.4 billion in revenues, a year-on-year (y-o-y) growth of 18 per cent during Q1 FY23. In line with the global results, India’s Oracle Cloud Infrastructure (OCI) unit clocked over 100 per cent growth for the third year in succession.
“India is a top-performing region and it truly stands apart. The growth here is bought on by the propelling digital transformation. We will continue to extensively invest in product innovation and services,” Makhija told BusinessLine. Oracle is working towards building more solutions and partnerships to facilitate choices and flexibility for the customers, he added.
The growth has been witnessed across all the verticals. Oracle’s customers across the industry are witnessing a huge surge in end customer demand to deliver the services digitally, said Makhija. Oracle currently serves more than 15,000 customers in India across large and SMB enterprises.
Makhija opines that the current growth rate is just the tip of the iceberg as organisations have moved only 20 per cent of their workload on the cloud so far. As customers prepare to further move all their mission-critical functions to the cloud, this provides the biggest opportunity for Oracle to scale further, he said.
The company said its two cloud regions in Mumbai and Hyderabad are running at full capacity, and have resulted in doubling the cloud customer base in the past few years. Oracle’s largest employee base outside of the US is in India. This involves a large group of engineers who are working on advanced technology and cloud development to support customers all over the world, it said.