Bengaluru, NFAPost: Chairman of private equity fund Aarin Capital and Manipal Global Education Moahandas Pai said the ban imposed on Chinese apps has given space for Indian IT experts to explore, experiment and conquer.
Speaking at a webinar series on ‘Talk with the Legends’ organised by made-in-India video conferencing app VideoMeet, Moahandas Pai made this observation in the context of the ongoing digital dominance debate by Google Playstore and ban on Chinese apps.
“The time is certainly ideal to utilise this huge potential and ban of Chinese apps has given Indian IT experts the space to explore, experiment and conquer. India is a country constrained by supply not by demand and tech startups are leading the wave for change,” said Mohandas Pai.
Mohandas Pai also highlighted that the need for the government is to come up with digital rights so that Indian companies can also compete in the global arena.
“When competing with global giants like China and US, Indian IT ecosystem needs more capital. We have to introduce the concepts of data sovereignty,” he said.
Padma Shri Awardee T V Mohandas Pai also pointed out that India has an average population of approximately 4.5 lakh IT experts and with each year 3-4 lakh experts are being added to this number.
“As skilled IT experts continue to grow, they are on the lookout for better opportunities. Atmanirbhar Bharat is a dream half- achieved if the required funding is not available for the app developers; therefore, policymakers need to pay attention to introducing measures that will aid in raising capital,” said Mohandas Pai.
Big data, AI
According to him, the sectors which show promising future growth trajectory and immense job opportunities are pharmaceuticals, FMCG, Digital marketing, IT, and data-driven companies. Technologies such as Big Data, AI and Machine Learning propose strong business models that can sustain via automation and engagement in customer services.
Moahandas Pai is currently heading the Manipal Global Education, a leading international provider of supreme quality higher education services. He is also the chairman of private equity fund Aarin Capital. Mohandas Pai is also instrumental in investing in more than 200 startup companies in his personal capacity and as part of other investment companies.
He has been associated with Infosys for more than 17 years as a senior officer and hired more than 250,000 applicants over varied domains of business consulting, IT and outsourcing services. Being at the centre of IT transformation in India, he added.
Opportunities for startup
Being at the centre of IT transformation in India, Mohandas Pai added that India is a country with passionate people who are not going to let the slowdown hit them.
“September has been a good month, and October has possibilities of getting even better. There are no easy ways to success; hard work is the ultimate deal that will lead you to the pinnacle. It is an opportune time for startups to grow and look out for funding, and not get disheartened about the GDP fall. As the market will only get normal, once the relentless and skilled workers are back in the market with a similar kind of energy,” said Mohandas Pai.
Speaking at the function, VideoMeet Founder Dr. Ajay Data said the virtual meetings have helped us bridge the gap of physical distance to a great extent during the course of pandemic.
“It has opened up opportunities which businesses were not willing to take due to the credibility issues. Talk with Legends is one such effort in the similar direction that is helping VideoMeet to bring a variety of IT stalwarts under one umbrella for creating a fruitful and knowledgeable discourse,” said VideoMeet Founder Dr. Ajay Data.