‘Internet has made the world one single market place’

Internet has not only connected businesses but also connected seven billion people around the world, according to TV Mohandas Pai, Chairman of Manipal Global Education Services.

Delivering the 21st leadership lecture on ‘Disrupting global business’ at TA Pai Management Institute (TAPMI) in Manipal on Monday, he said that internet has digitalised the world in the form of e-commerce. Stating that e-commerce has disrupted the global supply chain, he said it made the world one single market place.

Highlighting the importance of 3-D printing and robotics, Pai said these have substantially disrupted the traditional manufacturing system. However, the introduction of automation has reduced the job creation. He said that the market place now needs more skilled workers than unskilled ones.

Pai said that the second most disruptive change in the world economy would be in the energy sector, and opined that the major disruption in the energy sector would be the solar technology.

He said that changes around the world are disrupting the global business. The pace of change has accelerated and no one can escape it. The world will be a different place by 2030, he said.

Throwing light on the history of trade, he said the invention of the steam engine was a major turning point in history enabling cotton exported from India to be converted into textiles in mills in the UK and then transported to various ports to be shipped to Europe and other countries.

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