"We believe that SaaS will actually meet burgeoning customer expectations in India as well as globally," Rai said.
At 9:39 am ET (1439 GMT), the Dow Jones Industrial Average .DJI was up 30.89 points, or 0.12 percent, at 24,854.9.
More and more businesses globally, including in India, are embracing cloud infrastructure services which have made it easier for them to innovate.
Cloud major Oracle announced the first cohort for its "Startup Cloud Accelerator" programme in Mumbai and Delhi, and its third cohort in Bengaluru.
The venture wing of Salesforce.com Inc is launching a $50 million fund to invest in start-ups employing artificial intelligence, the cloud computing firm.
Indian developers have an appetite for cutting-edge technologies and are looking to quickly create applications with microservices, API and chatbots.
Aligning with the government's "Digital India" initiative, Oracle validated Oracle Cloud Platform to develop applications using India Stack services.
Oracle CEO has maintained that the country should not only let immigrants study and learn here but also work to drive growth.
Tata Consultancy Services announced that it has been recognised by Oracle as its "Integrated Cloud Partner of the Year" in the UK and Ireland.
Oracle on Tuesday expanded 'Oracle Cloud at Customer' portfolio with the availability of 'Oracle Exadata Cloud Machine'.
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