September 11

Viewpoint: India Can Soon Be the Tech Garage of the World

By Amitabh Kant

Government should act as a catalyst with the aim of innovating for India and the world.

Even as the world continues to grapple with the covid-19 pandemic, the remarkable resilience of India’s tech industry has been on display, with investments soaring to a mammoth $38 billion. A significant portion of these investments went to software as a service (SaaS)-based companies, which witnessed a major growth brought about by an increasing demand for digital tools and automation amid the current crisis. Unsurprisingly, eight of the world’s 10 richest companies grew and expanded because they are tech companies. The fastest-growing jobs on LinkedIn’s list of emerging jobs globally are artificial intelligence specialist and data scientist. During the covid period itself, Apple, Microsoft, Amazon, Facebook and Google enhanced their market capitalization by over $1 trillion.

Photo courtesy of IGOR SECHINOV

Source: Live Mint (link opens in a new window)

Finance, Technology
financial inclusion, innovation, startups