The average IT investment by an "IT mega-spender" Indian company was Rs 34 crore in 2006-07, and is expected to grow 26% to Rs 43 crore in the current fiscal.
Incidentally, public sector undertakings (PSUs) constituted more than half of the top 50 IT spenders in 2006-07 - exploding the myth that modernisation processes can take place only in private sector companies.
The IT investment of Rs 2,646 crore by 35 banks, financial institutions and insurance companies was the highest among the IT buyers. The Top 15 IT buyers from the BFSI sector also made it to the Top 50 in the survey.