In this State of the Economy podcast, businessline’s Haripriya takes valuable insights from Sindhu Gangadharan SVP & MD,SAP Labs India and Vice Chairperson, nasscom, Sangeeta Gupta Sr. Vice President, and Chief Strategy Officer at nasscom, and Jagdish Mitra Head - India Business and Corporate Affairs, Tech Mahindra. Assessing India’s position in the rapidly evolving global tech landscape, with a focus on artificial intelligence (AI). 

They highlight India’s remarkable progress in technology, transitioning from an IT outsourcing hub to an innovation-driven ecosystem with supportive government policies.

They also aknowledge how India’s tech landscape is characterised by a convergence of talent, technology, entrepreneurship, and government support. With a vibrant startup ecosystem, expanding digital infrastructure, and rising internet penetration, India has become a hotbed for tech innovation and entrepreneurship.

The discussion emphasises India’s resilience amid global macroeconomic challenges, attributing it to factors like a robust and diverse economy, large consumer base, and increased urbanisation. The country’s attractiveness for investment is underscored by its talent pool, growing market, and government initiatives.

Regarding the future of India’s IT industry, the conversation points towards a shift towards consulting-led services and a focus on emerging technologies like generative AI. Indian IT companies are expected to invest in training and retraining their workforce to adapt to changing technological trends and meet evolving client needs.

Sangeeta emphasises the continued growth potential of the IT services industry despite global challenges, citing opportunities in areas like generative AI and European markets. Haripriya raises questions about AI’s role in addressing India’s unique challenges and the necessary involvement of stakeholders like companies and the government. 

Sindhu discusses India’s potential as an AI hub, citing significant investments and government initiatives like the Digital India Act. She emphasises the importance of global collaborations and ethical AI regulations.

Sangeeta and Jagdish discuss the transformative potential of AI in various sectors, including healthcare and education. They highlight the need for talent development and India’s progress in AI research and innovation. The discussion touches on India’s position in the global AI landscape, acknowledging progress while recognising the need for further development.

Regarding policy changes, Sangeeta stresses the importance of R&D investment and simplifying regulatory processes, while Jagdish suggests creating innovation clusters to foster collaboration between industry, academia, and startups.

Listen to the podcast now to know more. 

(Host: Haripriya Sureban, Producer: Renil S Varghese)

About the State of the Economy Podcast

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.

Related Topics
comment COMMENT NOW