Could India lead the world on tech?

There’s a lot of talk about China reshaping the global technology sector but the massive change underway in India is often unreported. Indeed - as Australia’s High Commissioner to India Harinder Sidhu put it to me recently - India has the potential to be a world leader in the technology space.  

Click image to zoom Tap image to zoom

“These tech companies that started off as back-office operations are now moving quite consciously into cutting-edge software development,” she told me (here on video and podcast).  

"You can see India becoming really very much a global leader in technology.” - Sidhu

“Not just in… startups or apps or those sorts of things but also for industrial use, for health, for financial technology. You can see India becoming really very much a global leader in technology.”

India often gets a bad rap in terms of being a hard place to do business but a closer look reveals a lot of exciting things going on. It’s a fascinating country of opportunity and one ANZ has a long history in. The High Commissioner’s perspective is worth a considerable attention.

“I think India is in a very exciting place at the moment,” Harinder said. “You're seeing a country that is very young. The median age in India is 27. There's massive dynamism in the country.”

Harinder said reforms In India were remaking the landscape for business.  

“You're starting to see quite a lot of change in the ease of doing business,” she said. “[Including the] removal of red tape, the removal of bureaucratic intervention in parts of the economy.”

“You’re seeing a lot more business activity. India's attracting record volumes of foreign direct investment.”

Watch the video or listen to the podcast above to find out more.

Shayne Elliott is Chief Executive Officer at ANZ

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

editor's picks

03 Apr 2017

How India is bouncing (cash)back

Sanjeev Bajaj | CEO ANZ India

Demonetisation has been the buzzword of India since the bulk of the country’s cash was removed from the economy at short notice. For many it was a shock to the system, with their economic lives grinding to a halt as the cash shortage disrupted their ability to pay, and also be paid.

11 Jul 2017

PODCAST: is India the next big thing?

Leon Gettler | Veteran and highly regarded management journalist

On the cusp of regulatory change India – the world’s largest democracy – offers immense investment opportunity.