Perceptions drive growth and it is time India underwent its own perception shift from being a cost-cutting centre to an innovation hub.
India Inc. Founder & CEO Manoj Ladwa laid the groundwork during the Digital India Conclave recently, calling on ministers, policymakers, stakeholders and industry chiefs to take note and promote this important perception shift. Transforming the country from the “back office of the world” to “front and centre” requires innovation.
And one of the world’s leading IT giants, Cisco, is already proving this formula a success, a large chunk of its global revenues now down to Indian innovation.
Purushottam Kaushik, managing director, sales, Cisco (India & Saarc), revealed: “Few years ago when we started our business in India, it was supposed to be for cost reasons and as a back office. But today, India has the front office of Cisco.
“We generate almost one-third of the company’s global turnover ($50 billion) from India and products from end-to-end are innovated and designed in India. We have around 22,000 people employed for designing all these products.”
As a result, today innovation is at the heart of the company’s India presence, which it plans to take further by working with start-ups and educational institutions who can incubate and mature new ideas and bring them back into the company.
He explained: “The way the IT industry is looking at it, sure India may have been a back office but today it can be a startup capital, can be the innovation hub and there is an immense opportunity we see.
“We certainly need to provide the culture and support for innovation and that will work if industry works closely with startups that fall within their model.”
Initiatives like Digital India and Smart Cities are constantly generating new set of ideas on bringing technology and business together. With a “hunger to innovate” already present in the country, Cisco feels the only thing lacking at the moment is a conducive local ecosystem and domestic consumption to absorb some of the innovations.
This disadvantage can be cleared up with an education system which is constantly evolving and when “industry, education, financial support, government policy and legal support system” all come together and are allowed to grow without restraints, the results can be truly transformative for India. Cisco’s model clearly proves that.
The Indian government has made some strong moves towards creating the right connect between all these aspects. Initiatives like Startup India are aimed at feeding into a wider innovation friendly environment, throwing up more front offices in India like Cisco.Tagged: Digital India