IBM Global Financing to Aid Indian Mid-Market Growth

By siliconindia   |   Monday, 21 November 2011, 23:47 IST
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Bangalore: IBM offers interest free financing on IBM software products for supporting the small and medium business groups in India. This interest free financing is now available to the credit-qualified business ventures in India through the company's lending and leasing organization. Indian economy represents about 45 percent of the manufacturing output and around 40 percent of total exports of India. Recent Indian economic census data says over 26 million enterprises belong to small and medium business industries with almost 60 million employees. Though being the important contributors of the nation's economy, mid-market companies are still not profiled with sufficient financial support in the current economic system. The new IBM program will help mid-market business industries by fading the limited access to capital and knowledge into a greater access with the advanced technologies such as business analytics, robust network security and cloud, capabilities which previously named for large enterprises. IBM Global Financing South Asian Vice President, Sapan Jain said, "IBM is committed to India's growth and this offer will help companies thrive in an increasingly competitive environment. By providing financial resources, small companies will be able to innovate and grow faster." With the new aim of helping SMBs, both directly and through the company's Business Partners, IBM will be providing advanced technologies at a reasonable price. The zero interest and the quarterly payment system is hoped to be an advantage for SMBs.