India’s economic growth will be driven by services and not manufacturing’ – Nandan Nilekani

domainking131

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Nandan Nilekani is one of the founders of Infosys, one of the biggest companies in the Indian IT industry.

Here is what he has to say:


Going by the conventional wisdom of people, India should be an export-led country and we have to grow like Japan, South Korea and China. But this is not the right vision. India’s growth will be funded by the domestic consumption and not by exports, and it will be led by small businesses. Domestic consumption, small businesses and services are the three important aspects for the country’s growth,

said, Nandan Nilekani, former Chairman of UIDAI at Think Next Summer 2016,Microsoft Accelerator’s flagship forum. He was there to speak on ‘An alternate view of the future: India in the age of technological disruption.’

He mentioned that the growth of the Indian economy will be driven by services with manufacturing and outsourcing starting to reverse with the rise of technologies like IoT, robotics and 3D printing.

According to Nilekani, the mobile phone is the first universal electronic product with the sales number crossing 300 million per quarter. The internet penetration has also surged to 370 million users in India. The country is expected to have 700 million smartphone users by 2020 making it a bright spot in the international smartphone market.


The complete article may be read on YourStory
 

Swisslist

Member
I like keeping track of India's economy because it is just so interesting. Interesting, if for any other reason, in the fact of its location.
 

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