US recognises India's huge intellectual capital
It is no longer looking at India only as a destination for services, says policy expert Guruprasad Sowle
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New Delhi America recognises India's enormous intellectual capital, and integrating India with the manufacturing ecosystem in core sectors like semiconductor will be key, according to Policy thinktank founder Guruprasad Sowle.
He said that the US is no longer looking at India only as a destination for services. Sowle, who heads Indus International Research Foundation (IIRF), had met Prime Minister Narendra Modi during his state visit to the US in June. "Even if it means transfer of technology from US to India, gradually that will happen because there are certain technologies that America was not really forthcoming in terms of sharing but after this visit by the Prime Minister, there is a considerable shift towards manufacturing in India," Sowle said.
He noted that there was a paradigm shift where the US is no longer seeing India only as a destination for services. "They are seeing India to step up in core sectors, especially aerospace and defence, automotive, healthcare, artificial intelligence in healthcare," he said, listing the sectors where India can see a "huge opportunity". With consumer electronics, mobile phones, automobiles, computers and IoT poised to fuel global demand, India is wooing semiconductor and display manufacturers with a $10 billion incentive scheme, making a determined push to position itself as a global powerhouse for electronics production. He added that there is a huge opportunity for Indian startups in the United States but not many startups know they don't need revenue to be listed on NASDAQ. "This is something I covered with the Prime Minister when I got the opportunity to meet him.
Personally, I did mention to him that there are more than 200 Chinese companies listed on our stock exchanges with hardly 10 or 11 Indian companies listed.
