India’s IT sector has witnessed a significant transformation over the years equipped with homegrown enterprises, mid-market firms and startups. Some of the players have even positioned themselves on the global scene. Manish Prasad, President and Managing Director for SAP Indian Subcontinent, highlighted the same lately and expressed optimism about the country’s future prospects.
Prasad said that global companies are increasingly embracing India across manufacturing, electronics, semiconductors, innovation and more sectors. It is a shift in culture and is driving the country’s technology ability forward.
The Indian startup ecosystem is ranking third largest in the world and Prasad said that the creation of intellectual property (IP) within India including startups and unicorns are playing an important role. India currently boasts more than 1 lakh startups and around 110 unicorns. It is believed that the number is to rise significantly over the next decade.
Prasad pointed out that the global impact made by Indian IT companies through acquisitions and integrations showcase the ability of the country to compete on a global scale.
Meanwhile, Indian government has stated that startups are crucial to India’s development journey towards achieving a $30 trillion GDP by 2047.
SAP’s President for Asia Pacific Japan (APJ), Paul Marriott, stated the same and said that India has the potential to produce visionary leadership and a robust AI as well as startup community.
Prasad further emphasized that the transition of India to the global stage is underway even though there are challenges on the way. It is learned that about 60% of India’s GDP is linked to the SAP ecosystem. This means that the country’s tech landscape is poised for further growth and innovation.
