One97 Communications Ltd (OCL) has launched a subsidiary focussed on its enterprise cloud and data services arm Paytm Cloud in the United Arab Emirates (UAE) with an initial investment of $2.1 million. Paytm Cloud is making its first international expansion and demonstrating that the demand for cloud infrastructure and digital services in the Middle East is growing.
It is headquartered in Dubai, where the newly formed entity, Paytm Cloud Information Technology Consultancy Co. LLC, is situated. The company has designed a suite of services that include cloud computing, data analytics and artificial intelligence (AI) solutions for businesses and government clients in the region. Paytm Cloud aims to facilitate the UAE’s digital transformation roadmap by leveraging from its domain expertise of managing vast scale digital infrastructure in India.
Among the efforts for Vision 2030 strategy, the UAE has been actively investing in digital infrastructure and smart technologies, thereby making the environment for tech companies favorable. With Paytm Cloud, the company is expanding its presence in the market as per the nation’s mission of promoting the supply of digital services in all verticals like finance, health, and public administration.
Also indicative of the broader trend of Indian technology firms looking for avenues in international markets, this expansion also indicates that they are keen to increase their technology offerings. Setting up shop in the UAE will not only expand Paytm Cloud’s geographic perimeters, but also put them front and centre for a more expansive client base that is in need of cutting edge cloud and data solutions.
To roll out high quality services, $2.1 million will be disbursed to set up local operations, hire talent, and build the infrastructure towards fulfilling clients needs. Paytm Cloud aims to work with local partners and stakeholders to productize the solution for local use cases and regulatory readiness in specific regions.
Paytm Cloud looks to execute on this new chapter and hopefully its success in the UAE would serve as a catalyst for expanding into other markets in the Middle East and beyond. However, it will be crucial for the company to be able to adapt its services to local contexts without losing the reliability and efficiency it has become known for, so as to be able to establish a strong international presence.
