Aethra becomes top vender of video communication systems to the Banking Vertical in India

 Aethra® SpA, a leader in the global telecommunications market, today announced that it has become the number one vendor of video communication systems to the Indian Banking sector.

Aethra’s top position in the Indian banking sector is a consequence of its innovative and highperformance technology, extensive product portfolio and clearly defined sales strategy. Aethra entered the video communication market in India in 2003, and has since moved from strength to strength in making its mark on this strategically important vertical sector. Its products have now been installed in numerous large national Banks including The Reserve Bank of India, Canara Bank, Indian Bank, UCO Bank, Bank of India, Allahabad Bank and Bank of Maharashtra.

Aethra is poised to expand its growing position within India’s most prestigious banking institutions thanks in part to its strategic commitment to customer support. In the understanding that top quality technical support is fundamental in achieving high levels of customer satisfaction, Aethra decided it was necessary to provide local technical support within India itself, in order to guarantee fast and effective support levels. Its success is also the result of the fundamental support received from its premium partner, Siemens India, and its strategic partnership with RADVISION.

 India is a significant market in terms of group videoconferencing, representing $17.19 in terms of revenues and 3,926 in terms of units soldi. According to figures from Frost & Sullivan, the videoconferencing market size in FY 2005-6 was €11,422,601 against €5,014,800 in 2004-5 and is likely to grow at a compound annual growth rate of 24.9% until 2011. The main drivers for market growth have been identified as vertical sectors such as Banking and Government, although growth is also being witnessed among small and medium businesses, which are adopting videoconferencing solutions after recognizing the vast benefits on offer.

 In FY2006, Aethra achieved a growth rate of 35% and expects to continue this upward trend in the current year. In 2006 Aethra reached 12.2% of group Video revenues market share and 25.8% of market share in terms of group video units.

“We are the leaders in the Banking segment and now we are on our way to achieving significant results in the Government verticals such as NIC, NHAI, and Defence” declared Harshad Contractor, Regional Sales Director-SAARC nations. “In the FY2006-07 we achieved a growth rate of 35% and we aim to reach 40% for FY2007-08, through our strategy of segment targeting and local technical support”.

 With a GDP growth rate of 9.4% in 2006-07, the Indian economy is among the fastest growing in the world and is the twelfth largest economy in the world. When measured in terms of purchasing power parity (PPP), India has the world's fourth largest GDP at US$4.042 trillionii.