The overall Indian market for cloud,both public & private has grown steadily to reach $860 to $912 million in calendar year 2011, according to market advisory firm Zinnov Management Consulting. The 'Public Cloud Opportunity in India' study released today highlighted that the public cloud market comprises 20-22 percent of the share, while the remaining 78-80 percent is accounted for by private cloud. The public cloud market has rapidly evolved in the last two years in India with significant traction across SaaS, PaaS & IaaS (software as a service, platform as a service, infrastructure as a service), the study said.
With the current market of $160-192 million in 2011, public cloud in India is at a very nascent state of the market and may not have hit the inflection point yet, indicating significant future potential. More details from here