Mumbai, Mar 15 (IANS): As more and more Indian CIOs look forward to embrace digital technologies, lack of skilled IT talent in the country has become a viable threat to their dreams, a new report said on Wednesday.

According to Gartner's annual global survey of CIOs that received responses from 65 Indian CIOs, average IT budgets in India are expected to grow 10.7 per cent in 2017 -- nearly five times faster than the overall global average of a 2.2 per cent increase.

However, India is struggling with significant IT talent gaps, it added.

"India is one of the fastest-growing economies in the world and Indian CEOs are looking to their CIOs to deliver on the promise of digitisation," said Partha Iyengar, Vice President and Gartner Fellow.

"Indian CIOs have the money to spend but the availability of talent and skills necessary to implement key projects remains a significant challenge," Iyengar noted.

The survey gathered data from 2,598 CIO respondents in 93 countries and all major industries, representing approximately $9.4 trillion in revenue and public-sector budgets, and $292 billion in IT spending.

Indian CIOs are being given the budgets to invest in digitalisation and the game-changing technologies that support it, but IT organisations remain immature in some respects and lack key resources.

"How Indian CIOs deal with the challenges caused by rapid business change and opportunities will help determine the future success of their enterprises," Iyengar added.

When asked how much their company's revenue will grow in 2017, the Indian CIOs surveyed reported that they expected average revenue growth of 12.6 percent.

This is much higher than the global average of a 4 percent rise in company revenue among respondents.

Nearly nine out of 10 Indian CIOs stressed support for digital business over optimising IT costs, and almost 80 percent said they emphasise innovation over daily operations.