Zoho eyes over $1B revenue from India by 2030
Zoho, India's largest privately held tech services firm, is aiming to make over $1 billion from the Indian market by around 2030.
CEO Mani Vembu says the big goal is thanks to a huge demand for digital tools among India's 63 million-plus homegrown small and medium businesses (SMBs).
He's expecting more than 30% yearly growth from this segment—no small feat, but Zoho has already pulled off a strong 51% annual growth rate over the last decade.
India contributes 15% to Zoho's revenue
Right now, India brings in about 15% of Zoho's revenue.
To keep up momentum, Zoho is putting up to 35% of its earnings into research and development—including building an advanced AI language model for its products.
With global markets facing uncertainty, Zoho is doubling down on India to ride the country's digital transformation wave.