Private sector must contribute 1.5% to such spending, he says in speech urging educational institutions to teach new technologies
'High-growth industry' will continue performance despite global slowdown, says co-founder of Infosys
'Ups and downs' in global economy will not impact Indian industry for long, he says
India will continue to be a lower cost economy for around two more decades, and it will be cheaper to design and manufacture products here for many years, Infosys' co-founder Kris Gopalakrishnan said on Monday. In the next three decades, India will reach where China is today by becoming a middle-income country with a per capita income of at least USD 6-7,000, Gopalakrishnan said while addressing the first convocation of Somaiya Vidyavihar University. "India will continue to be a lower cost economy for the next 10-20 years, whereas the countries above us in development are all higher income countries. It will be cheaper to ideate, to design, to develop and manufacture products in India for many years to come," he said. It can be noted that labour arbitrage, especially on the services front, has been very helpful to the country's growth. The IT sector which emerged out of it is now a USD 220 billion industry and supports millions of jobs. Gopalakrishnan further said the country will
One has to be 'fully committed' to one organisation, says co-founder of Infosys
Co-founder of Infosys Kris Gopalakrishnan was the chief guest for the virtual inaugural function at IIM Kozhikode
Infosys co-founder was heading a committee on non-personal data protection bill, which had submitted its report to govt a few months back
Fintech firm MobiKwik on Friday said it has raised Rs 52 crore in funding, led by Hindustan Media Ventures
The aim of the facility is to create an eco-system that would "focus on promoting access to financial services and products. This will also promote financial inclusion
The Reserve Bank Innovation Hub (RBIH) was set up to promote innovation across the financial sector
Series-A round led by Alpha Wave Incubation; existing investors IDFC Parampara and Gopalakrishnan among other participants
Panel's proposals on governance framework need a relook
The government has invited feedback from public on the report submitted by the committee to fine-tune the suggestions of the panel for non-personal data governance
The former CEO and Managing Director of Infosys said he does not see job losses in the IT sector
Some start-ups are also considering salary cuts, especially at the senior levels, says Gopalakrishnan
Gopalakrishnan advised startups to take minimum funds from angel, friends and families. They have to create minimum viable product, and establish unit economics and profitable model, he underlined.
The global and domestic economy will grow and to capitalise on the same companies need to invest in innovation, he said
The company will make additional investment of around Rs 60 crore to take its stake in Ampere to 100%
Ministry was considering a whitepaper that would form the basis for a wider consultation on non-personal data
IT industry always looks for talent with right technical capability, says Gopalakrishnan