India software revenue totaled USD 4.765 billion in 2013, a 10% increase from 2012 revenue of USD 4.334 billion, according to Gartner.

"The Indian software industry is in the middle of a multiyear cyclical transition as organizations are focusing investments on technologies to support existing system structure," said Bhavish Sood, research director at Gartner.

"Organizations are doing this in order to maintain competitiveness, while still taking advantage of cloud/subscription-based pricing where it makes sense to grow and advance the business."

There is a shift in vendor rankings from 2013 at the top of the worldwide and India software market. This is the first time in Gartner's India software market share research that Oracle has ranked second in terms of total software revenue with approximately USD 505 million in 2013, capturing 7.3% of the market.

"Trends around business intelligence and analytics, with increasing customer investments in database management systems, helped to drive Oracle's top-line growth," Sood said.

"India is growing faster than other emerging countries, which can be attributed to an export-oriented focus over the last decade. However, recent advances in IT communications infrastructure in the country has opened up new avenues for local consumption of IT software and associated services," said Sood.

"Although there is an economic slowdown, Indian enterprises are still judiciously investing in technology that can be tied to the business objectives and impact their bottom line. Indian enterprises are generally more price-sensitive compared with enterprises in mature markets, but now they are spending on technology that offers a significant upside in terms of agility or productivity gains with diligent planning."