IT spending in Indian manufacturing to double by 2016

Here's some good news for IT industry on domestic front. According to research agency IDC, IT spend in Indian manufacturing will double by 2016. 

IDC's Manufacturing Insight predicts the India manufacturing IT spending to grow to $8,781.8 million by 2016, which doubles the manufacturing IT spending of 2011, representing a CAGR of 14.5% between 2012 and 2016. The sector with the highest IT spend in the Indian manufacturing sector in 2012 is automotive, which is followed by chemicals and consumer products. 
"With increasing costs and uncertainty in the world economy, manufacturers across the region are increasingly focussing their efforts on productivity and efficiency in 2012," said Dr Christopher Holmes, head, international, IDC Manufacturing Insights. Holmes continues, "From a technology perspective, we will see companies move to clearly establish the link between technology and efficiency as companies focus on driving out cost and becoming ever more productive." 

Holmes elaborated, "There is increased interest in looking beyond ERP, as companies seek to leverage technology to deliver value to the enterprise, with increased focus on more specific applications to support manufacturing operations, supply chain management and product lifecycle management. We are also seeing increased interest in newer technologies such asbusiness intelligence and mobile within manufacturing enterprises, as companies seek to leverage these for enhanced productivity."