By 2024, 40 pc Indian digital infra tenders to seek vendors info on ESG progress: IDC

Around 40 per cent of Indian digital infrastructure tenders by 2024 will ask vendors to submit their environmental initiatives and progress made on the same, market research and analysis firm IDC said on Tuesday.

During the release of 'IDC 2022 Future Scape' report, IDC India Research Director for Enterprise Solutions and ICT Practices Sharath Srinivasamurthy said ESG (environment, social and governance) is gradually becoming a priority for Indian enterprises moving beyond reporting requirements.

''By 2024, 40 per cent of Indian digital infrastructure RFPs (request for proposals) will require vendors to prove progress on ESG/ sustainability initiatives with data, as CIOs rely on infrastructure vendors to help meet ESG goals,'' the report said.

Srinivasamurthy said the prediction is based on multiple interactions IDC has been having with both the IT buyer and vendor community through 2021.

The report estimates that by 2024, digital-first enterprises will enable empathetic customer experiences and resilient operating models by shifting 50 per cent of all tech and services spending to as-a-service and outcomes-centric models.

IDC has earlier predicted that India's total IT spending is estimated to increase to USD 76 billion in 2022, from USD 70 billion in 2021.

According to the firm, India's IT spending is set to grow in the next five years (2020-25) with a compound annual growth rate (CAGR) of 10.9 per cent to USD 96 billion by 2025 and by 2024, it is set to touch USD 89 billion.

The IDC 2022 Future Scape report estimates that by 2024, 30 per cent of organisations using cloud services will establish a dedicated FinOps (an evolving cloud financial management discipline and cultural practice) function to automate policy-driven observability and optimisation of cloud resources to maximise value.

According to the report, by 2024, 35 per cent organisations will allocate half of its security budget to cross-technology ecosystems and platforms designed for rapid consumption and unified security capabilities to drive agile innovation.

The report predicts that Central Bank Digital Currency roll-outs are gaining momentum, and by 2025, more than 15 per cent of tier-1 corporate banks will offer their clients integrated solutions to unlock liquidity from both traditional and digital assets.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)