Evidently, the most popular capital city of India-Mumbai certainly needs no introduction. Famous as the financial and commercial capital of the country, the city serves as an economic hub for its people. The capital of Maharashtra, Mumbai, is home to important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.
Mumbai is also the entertainment capital of India and is among the world’s top 10 centers of commerce in terms of global financial flow. As of 2008, the Globalization and World Cities Study Group (GaWC) has ranked Mumbai as an ‘Alpha world city’, third in its categories of Global cities.
Talking about the various sectors of the city, even IT is not far behind the race in Mumbai.
The information technology sector of the city is also doing a profitable business, churning a huge amount of revenue annually. According to channel partners of the city, the Mumbai IT market has been doing good business since the past few months. “The market is doing steady business since June this year, although no new trends are visible in the market,” said Ramesh Purohit, owner, Om Shakti Computers. Agreed Naresh Ochani, owner, New Era Informatique, “The market situation is good at present. We have been doing an average business of late.” Although all the sectors are contributing their bit to the city’s economy, retail and consumer segments are the highest contributors. According to Chandresh Shah, CEO, Access, retail is the booming segment in the city and is the most contributing one as well. Amit Rambhia, owner, Vardhaman Technology said in concurrence, “Customers in retail are increasing rapidly. Retail is the primary growth vertical in Mumbai.”
When it comes to the top-selling brand in the city, Dell enjoys an undivided attention from consumers. Vijay Goel, CEO, Miracle Tech Distributors said, “Dell is the most sought after brand in the city. They have a good brand awareness among the masses.” Rambhia also vouched for Dell to be the #1 brand in the city. Talking about Trade Association of Information Technology (TAIT), the popular computer association in Mumbai, Purohit said, “TAIT is functioning well. It is very active in the region.” However, while predicting the future of the Mumbai IT market, partners have different views. Rambhia said, “The future doesn’t look good for the assembled market. It might go down by 10% in times to come. However, iPads are going to be the most favored product in the future.” While both Goel and Ochani predict the market to grow by at least 20-30%. Ochani said, “The market will grow by at least 20% in the coming times. The future looks green.”
Interview: Vijay Goel, CEO, Miracle Tech Distributors
How has the been market in the last 2 months?
Last month was very good, but this month has been average because of the crisis in the US. The Indian economy is also getting effected by it.
Do you face any major problems with your vendors?
There are no major issues. But, as and when we have any, we sit together, discuss and sort it out amongst ourselves.
Do you have any computer association in Mumbai? How active is it in solving your problems?
We have the very active Trade Association of Information Technology (TAIT). It tries hard to educate its members by conducting various activities, but there are certain issues, which are out of their hands and they can not do anything much about them.