THE VAST UNFULFILLED PROMISE OF INDIA: WILL HISTORY BE KIND TO NARENDRA MODI?

Donghyun Park

Chapter 58 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 264-268 from World Scientific Publishing Co. Pte. Ltd.

Abstract: No discussion of Silicon Valley and future Silicon Valleys would be complete without a discussion of India. The country has probably the largest number of IT experts in the world, which explains the prominence of Indians in Silicon Valley and the global IT industry. The immense concentration of IT scientists, engineers, technicians, and other IT brain power means that India is well-positioned to become the home of the next Silicon Valley. To be sure, India has already enjoyed a great deal of success in the global IT industry, in particular as the world’s most successful exporter of IT services. Furthermore, Bangalore and Hyderabad have emerged as globally important IT hubs, and some Indian IT companies — most notably TCS (Tata Consultancy Services), Infosys and Wipro — have become globally recognized names. But the much bigger question is, given its cornucopia of IT talent, why has not India yet produced its own Apple or Google or Amazon, in other words a world-class tech giant…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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