Japanese technology major Nippon Telegraph and Telephone Corporation (NTT) has said it is on course to hit the $1 billion revenue mark in India given the strong demand environment there, according to its Global Chief Executive Officer, Abhijit Dubey.

The Japanese firm, which has the third largest data centre company in the world has raised its bet in the country after it announced an investment worth $2.5 billion in India's Maharashtra state over the next five years.

This follows an earlier $2 billion investment by NTT into the country in 2020. With the additional $2.5 commitments, NTT has made a commitment of over $4.5 billion in the country.

According to Dubey, "India is one of the fastest-growing markets for NTT, with revenues in the vicinity of $1 billion. Importantly, after Japan, India is the centre where we have the largest employee base,” he added.

With its new investment, the tech major is betting big on the India growth story as it consolidates its data centre and information technology (IT) services portfolio within the country.

NTT Ltd. is an infrastructure services and communications company which merged with NTT Data global business, in 2022, to create a global $20 billion IT services company.

The country currently holds between 3 to 5% of its $20 billion international business, which brings the numbers in the range of $700 million. Between its data centre business and IT services, the data company has 37,000 employees in India the largest outside of NTT’s home base in Japan and a global headcount of 147,000.

NTT, which already has 11 data centres operational in India, say it will launch 6 additional data centres over the next three months. The company also said that by the end of this year, India it will land a submarine cable, called Mist in Mumbai and Chennai and will connect data centres in India to Myanmar, Singapore, and Malaysia.