Microsoft president sees bright future for India thanks to software talent and growing working-age population

Posted On: June 28, 2024

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Microsoft Vice President and Chairman Brad Smith has high hopes that India will be a catalyst for global economic growth by providing the technology it needs. During his visit to the country, Smith informed Economic times that India is one of the software giants with “unparalleled achievements” in its data stack, enabling it to “become a software superpower” and rank among the top two or three software economies in the world. Smith said the company saw huge potential for Indian talent.

“We are increasingly working to enable India to become one of the major exporters of IP software… like the Aadhaar and UPI projects. “The people who created it, the people who know it, are based here in India.”

Additionally, Smith highlighted the opportunities that India receives because of its population. According to him, while the working-age population in Europe, Japan, South Korea and North America is decreasing, the working-age population in India is increasing.

“The truth is there are probably only two solutions: more technology and more immigration,” Smith said. “And we will see what the different countries decide. Every country will want more technology. Frankly, this challenge represents an opportunity for India. Because even though the growth rate is slowing, in India, the working age population continues to grow. This reflects the fact that India is a country where half of the population is aged 25 or younger. India has a population that will continue to grow through 2050.”

With this growth and India's workforce, technological capabilities and know-how, Smith believes that India can provide the assistance the world needs to ensure economic growth, particularly in terms of technological contributions.

The comments come after Smith praised the Indian government for delaying its proposed Personal Data Protection Bill, which would have been replaced with a comprehensive legal framework to address current and future challenges in the digital ecosystem. In addition to welcoming the move, Smith added that India is also proving to be one of the most influential countries in the future of tech regulation, placing it alongside the European Union, the United Kingdom, the United States and China.

“…the Indian government is moving forward in a very smart way. And, for example, the fact that the government is killing privacy laws…” Smith said. “What worries me most, around the world, is when governments try to work so fast, to push laws together in so many areas, at the same time, that they don’t have a chance to think about how to put the pieces of the puzzle together. This idea is that the government will pause to think about how privacy law should evolve with better connections to other areas. That was an act of wisdom.”