India, which has grown from a $300 billion economy to a $3.5 trillion economy in three decades, offers entrepreneurs and businesses remarkable opportunities in the coming decades, particularly in two areas – India for India and India for the world – said a top Indian-American entrepreneur.
“The opportunity (in India) is remarkable and this is incredible testament to the incredible work being done by the (Indian) government, public sector, private sector and non-profit sector in India as a whole, there is incredible potential in India,” said the American Indian Frank D’Souza, co-founder and former CEO of Cognizant Technology Solutions.
In a fireside chat with Suresh Kumar, Professor and Director of Innovation and Entrepreneurship Programs at the New Jersey Institute of Technology, at a TiE event in New Jersey where he received the first Excelsior Award for Lifetime Achievement and Contribution to Entrepreneurship, D’Souza, said that there are two major opportunities for entrepreneurs and businesses in India.
“One of them is India for India. I think doing all kinds of things in India for consumption in India is a great opportunity. And then of course I think, given what’s going on in the world, India for the rest of the world opportunity, that is, the world I’ve played at Cognizant, but not just IT, I think India will be the opportunity to export all sorts of things over the next two decades,” he said.
“Both India for India and India for the rest of the world will be remarkable in the years to come,” D’Souza told a key group of Indian-origin entrepreneurs at the TiE Gala in New Jersey last week.
The next decade, he said, will be the one where India finally produces real IP software-based companies for the world. “I think that’s going to happen now. We’ve talked about this for years. And for years it’s been happening in small pockets and we’re seeing more and more,” he said, referring to the fact that India is now producing a unicorn every nine days.
“I think that’s where it will come from. You could see the next, the next Oracle, the next Google, the next Microsoft coming from India. That excites me. Services will continue to be incredibly dynamic. It’s me investing in services. But what is the next frontier for India? In technology, India will become the next big global software company. That should be our goal,” he said.
In response to a question, D’Souza said Indian-American IT professionals are the best and brightest. “The first generation to come out of India is kind of the best and the brightest,” he said.
Many of them quickly rise to senior management positions in companies, largely because of the experience they gain during their time on H-1B visas, Kumar said.
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