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Sairaj Kadam
Student & Financial ...ย โขย 10m
Why Indiaโs Tech Industry Thrives Globally but Lags in Domestic Innovation Indiaโs tech industry is a global giant, yet when it comes to homegrown innovation, it falls short. Why? Service-First Mentality: For decades, the focus has been on IT services and outsourcing for international clients, sidelining local product development. Risk-Averse Investments: Venture capital often prioritizes safer, proven models over bold, transformative ideas, stifling disruptive innovation. Limited R&D Funding: Indiaโs investment in research and development is modest, hindering advancements in cutting-edge technologies. Brain Drain: Many skilled professionals move abroad or work in service roles, leaving little room for domestic innovation. Cultural Barriers: A stigma around failure discourages risk-taking, an essential ingredient for groundbreaking innovation. The Opportunity Ahead Things are changing. Government initiatives in AI, digital infrastructure, and startup funding are paving the way for innovation. As experienced professionals return to India and public-private partnerships grow, the country is poised to turn its global expertise inward. India has the potential to lead not just globally, but also locallyโif it focuses on solving domestic challenges with the same intensity it applies to global markets. The question is: Can we unlock this potential before the next tech wave?
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