Title: India: The Global IT Hub According to Ashish Chauhan, NSE's CEO
The Growth of India Powered by Information Technology Discussed in a Podcast: Ashish Chauhan, Managing Director and CEO of the National Stock Exchange, Shares His Insights with Kailash Adhikari, Managing Director of Sri Adhikari Brothers
"India's unmatched IT talent of 20-30 million (two crore to three crore) professionals, bolstered by the presence of over 2k to 3k multinational tech companies, places India at the global epicenter of IT."
That's the gist of what Ashish Kumar Chauhan, the big cheese at the National Stock Exchange (NSE), had to say in a chat with Kailash Adhikari on a podcast.
In 1994, during the IT programming boom, NSE was ahead of the curve by establishing India's first digital public infrastructure for trading via satellite. This bold move pumped up the self-confidence of Indian engineers and the public, pushing the boundaries of what India could achieve in technology.
Fast-forward to the Year 2000 (Y2K), and India had a heyday with its small IT companies grabbing big contracts, showcasing its technical muscle to the world. This period was a significant leap forward for India's IT dominance.
"Today, with technology being the fuel powering our growth, India stands proudly as the world's IT capital."
Chauhan emphasized that today, some of India's tech giants like TCS have over 700,000 employees, while Infosys boasts more than 500,000. What a powerhouse, eh?
He went on to say, "Technology has brought about the biggest shift and change in the world." Points for his honesty, right?
Tune in to our latest episode: youtu.be/F1Gdv3x8ROY to catch the full conversation with Ashish Chauhan. He spills the beans on India's IT prowess, the role of NSE as a catalyst, and how India's service economy thrives.
So, with that massive IT talent pool and a plethora of multinational tech companies snuggling up in India, it's no wonder that globally acclaimed companies like Microsoft and Google seek AI expertise from Indian brains. Did you know that up to 80% of Microsoft windows parts are produced in India? Bonkers, right?
Chauhan also highlighted the unique advantage of India's service sector, which doesn't require any raw materials and boasts a well-established services sector ecosystem. Until you need a cup of chai or samosa during your service, you're good to go!
Speaking of India's economy, Chauhan pointed out that our exports and imports run neck and neck, with net services making up $200-250 billion and remittances contributing $125-$150 billion. Balance of payments in surplus for the last 4-5 years? Check. Strength and ability? Double-check.
"Now, with iPhones being produced in India, servers, and electronic chips will soon follow suit." Japan might want to keep its cool breeze coming. As for India's tech experts, they're working on big things for Microsoft, Google, and other big names. They've also got logistics covered, with 100,000 to 200,000 tech experts from 3,000 multinational companies hard at work in India.
Chauhan added that the pace of technological change is picking up, and it's expected to generate even more wealth for the world within the next 50 years.
He dubbed the forthcoming technology era as "Capitalism without Capital" and said that unlike manufacturing, technology requires minimal financial capital. Whether you're a small champ or a titan, the waves of technology are here to help you swim or sail into success.
Responding to a question about NSE launching an SME Exchange, Chauhan, a veteran of both NSE and the Bombay Stock Exchange, pointed out that in 1994 India had fewer than 10 million investors. Fast-forward to today, and we've got 11 crore investors from Ladakh to Andamans. Not a single pin code in India escapes the investor buzz, except for 28 (!!). Power to India's entrepreneurs, right?
25% of NSE investors are women, and more than 1 in 5 households are investors. So, if you're an entrepreneur looking to grow, you know where to go. A whopping 600 companies that raised capital in the last 10 years have made it to the main board, having earned the investors' trust.
"The stock market capital of Rs 3.80 lakh Cr in 1994, today stands at Rs 4.40 lakh Cr. This feat is unheard of in a low per capita income country, and India, once again, is bucking the trend."
So, there you have it folks, the secrets to India's IT success and economic growth, straight from the horse's mouth (or is it the market's mouth?). NSE, powered by Ashish Chauhan, is acting as a catalyst in driving India's economy forward. With more than Rs. 2,000 crore worth of orders daily processed within 6 hours and shares traded reflecting in investors' accounts the very next day, NSE is truly a force to be reckoned with. And you can bet on Chauhan, who's earned the nickname "the father of modern financial derivatives in India."
- "With its massive IT talent pool and the presence of over 2k to 3k multinational tech companies, India has become a global IT hub, boldly asserted Ashish Chauhan, CEO of NSE."
- "Today, India's tech giants like TCS and Infosys employ over 700,000 and 500,000 people respectively, showcasing the country's profound IT growth."
- "Technology has been a significant driver of India's economy, according to Chauhan, revolutionizing the business landscape and generating wealth."
- "As technology continues to evolve at a rapid pace, India is poised to become a major player in the production of servers, electronic chips, and even iPhones, Chauhan predicts."
