Entrepreneurship, Innovation and Succession: India’s Changing Business Landscape
Published: September 16, 2011 in India Knowledge@Wharton
Over the past 20 years, India’s information technology and outsourcing companies have grown at an extraordinary pace, with many reaching revenue numbers in the billions of U.S. dollars and seeing staff sizes grow exponentially. But this is almost entirely in the services arena; in product space, Indian companies have been singularly unsuccessful. Services may well have been the path of least resistance, said panelists during a discussion at the 15th Wharton India Economic Forum in Philadelphia.
“Whether you use Accenture, IBM or Wipro, India is literally the back office for global information technology,” according to Vish Tadimety, chairman and CEO of CyberTech Systems and Software, a leading provider of geo-solutions in India and the U.S. But thus far, Indian companies have not proved as successful in the product and shrink-wrapped software realm. With so many Indian multinationals increasing operations outside the country, many in the Indian business community are asking if India is preparing to remain competitive in the changing economic ecosystem. Does India have the resources, structures and innovation it needs to meet the challenges of the coming decade? What are the opportunities for first-time entrepreneurs in India?