India’s next decade growth will be around energy transition, green tech, renewables, says SAP’s Paul Marriott

Asian markets overall, especially South East Asia, are still very resilient, according to Paul Marriott, President, SAP, Asia Pacific.
| Photo Credit: Triston Yeo

India’s growth in the next 10 years will be driven mostly by electrification (EV), energy transition, green technology and renewables as they stand to offer a huge and long-term business opportunity for the country, said Paul Marriott, President, SAP, Asia Pacific.

“India is the fastest-growing geography in the entire Asia-Pacific region and even globally. The country will continue to sustain a healthy growth for the next 10 years with a focus on electrification, innovation, green technologies and sustainability,’‘ Mr. Marriott told in an interview.

According to him, the Asian markets overall, especially South East Asia, are still very resilient. Japan is continuing to grow, there is significant growth coming from Indonesia and Singapore. Korea is seeing an interesting growth wave driven by four to five mega high tech companies including Samsung, LG and Hyundai and supported by a large ecosystem comprising a large number of big and small companies engaged in automotive (EV), battery manufacturing, etc.

Commenting on what’s on the mind of clients in the Asia Pac region on the backdrop of global economic pressures, the SAP official said, the general mindset among Asian leaders were still optimistic.

“Companies now want to re-access their capabilities, re-set their business strategies, continue to stay positive and optimistic, be more progressive and want to develop a sustainable business model,’‘ he observed.

Mr. Marriott further said, there seemed to be a small digit increase, over last year, in the IT budget in the region, especially for projects of transformational in nature.

“Investment situation changes, as there is board level scrutiny of budgets, investment is still happening. History shows, smart companies always invest in their own transformation when they go through tough times,’‘ he added.