Amazon Web Services, the cloud services arm of Amazon, is bullish on the spending made by Indian corporates to migrate to the cloud despite global headwinds affecting the IT budgets of enterprises.

“When we meet the customers here in India, they are excited about the potential to optimise their cost, invest in new customer experiences, launch new products and drive new changes in the business. We are seeing that customers are actually doubling down on that promise and they are focussing on the ideas that they need to pick now that are going to help them set the foundation five-six years down the line,” said Ishit Vachhrajani, who is the global head of enterprise strategy at Amazon Web Services.

“At AWS, we are seeing good momentum. There is a lot of focus on new ideas in inventing business models and investing in technology to then drive business outcomes. I know a lot of companies in India, especially start-ups have global ambitions where they want to reach customer base globally, and cloud provides them with a platform to scale up,” he said.

“The amount of overall IT spend on cloud is still very small. So, the opportunity is pretty big and we still think that it is early days of cloud adoption,” he added.

Earlier this month AWS announced its plans to invest $12.7 billion into cloud infrastructure in India by 2030 to meet the growing customer demand for cloud services in the country.

The Indian public cloud services market revenue, which includes infrastructure as a service, platform as a service and software as a service, was estimated by International Data Corporation at around $2.8 billion in the first six months of 2022.

It is expected to reach $13 billion by 2026, growing at a compounded annual growth rate of 23.1 per cent between 2021 and 2026.

Analysts said that depending upon the maturity level of the enterprises, the spending context may vary between different businesses but overall it will continue to remain on an upward trajectory.