India-based R&D labs to help lower cost of adoption of innovations.
Singapore: Indian firms are slower in adopting digitisation due to lack of infrastructure despite the fact that most of the technological innovations and solutions are being developed in the country, experts said here on Monday.
Almost all international organisations have set up technology labs in India. It is a case of innovative solutions being developed in India, while the users are elsewhere in the world, Dr Rajiv Aserkar, head of global MBA and professor of logistics and supply chain management at SP Jain School of Global Management, said.
Indian corporations need the support of a robust infrastructure — airports, railway network and roads — to adopt Artificial Intelligence (AI), blockchain and Internet of Things (IoT), he stressed.
According to Cyrille Witjas, MD of global management consulting firm Accenture Strategy, India is well placed to manage disruptive technologies with its talented youths showing innovations and new ideas through start-ups. Accenture Strategy has a Centre of Excellence in Bangalore.
India’s demographic dividend is not just about more number of workers but about a massive pool of highly skilled, capable and educated workforce entering the active workforce, Kumud Jha, a senior executive at Accenture Strategy, said.
This will be the critical driver supporting the global digital industry and will serve India Inc very well in times to come, Mr Jha added.
Indian firms have a big advantage in adopting digital technologies at a faster pace and cost-effectively, given that most of the globally applicable innovations and solutions are coming out of laboratories based in the country, the experts said.
But as of now, the Indian corporations are slower in adopting digitisation for lack of infrastructure, Aserkar said.
“These backyard-based labs, serving the world’s leading business houses, will offer the Indians cost-effective innovations and solutions, on the next-door delivery basis,” he added.
The gurus were sharing their insights on digitisation in Southeast Asia and India following the release of a joint study conducted by SP Jain School of Global Management and Accenture Strategy on digital supply chain.
The six-month study, Measuring Digital Supply Chain Maturity, was based on responses from top management of over 130 companies.
Though we note the slower pace of digitisation technologies by Indian firms, most of these innovations and solutions are being developed in India and are available in their backyards, Aserkar pointed out.
Expressing confidence, Mr Witjas said India is well placed to manage disruptive technologies with its talented youths exhibiting new innovations and new ideas through start-ups on almost daily basis.