A Quote by Rakesh Jhunjhunwala
There has to be a period of consolidation in the IT industry. Similarly in pharma, I think India is going to be a world power. We have the lowest cost, good technology, Indian companies are gaining size.
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What makes the Amazon-Whole Foods deal so problematic is that they are going into an industry with large infrastructure, brick-and-mortar cost, and seeking to build consolidation where we already suffer from consolidation. It's not like Walmarts and Targets have been good for wages or local grocery stores or niche producers.
I think there are opportunities outside India as well as in India. In fact, some of the largest projects that most Indian software companies are doing are in India.
I am extremely honoured by Indian Council For Culture Relations, India's apex body on the promotion of great Indian culture across the world for including cinema and I am deeply honoured for being the first person from the Indian film industry to represent the cause of this industry in the overall cultural promotion globally.
Blockchain is an innovative technology with the power to change society and is gaining the world's attention as a technology to enhance the competitiveness of the urban economy.
Patients are becoming aware that they're being taken for a ride by big pharma companies. They charge high prices and have never cared for India's healthcare. There are 23 million cases of cancer every year and India has a fair share of that.
Pharma has a lot of lobbies and a lot of lobbyists and a lot of power and there's very little bidding on drugs. America is the largest buyer of drugs in the world and yet we don't bid properly and we're going to start bidding and we're going to save billions of dollars over a period of time.
I think the Tata Group's greatest contribution to the growth of the Indian economy and Indian industry probably happened in the pre-independence era. The Group's investments in industries such as steel, textiles, power and hotels were certainly driven by an entrepreneurial spirit, but they were driven even more, I think, by a desire to make India self-sufficient and independent of its colonial masters then.
One of the weaknesses of Indian industry is that in many areas.. like consumer goods.. it is very fragmented. Individually, the companies might not be able to survive. What is needed is a consortium of like companies in one industry, presenting a strong front to the multinationals. The Swiss watch industry did this.
If you look across the economy, if you have multiple players in an industry, you have more customization, more innovation, greater choice for consumers. The more you have consolidation, the less likely you are to invest in innovation. It becomes all about driving down cost and mass production. And that's not good for innovation in an industry.
Infosys, with the rest of the Indian IT industry, has transformed the image of India around the world, transformed the image of Indian professionals, creating huge opportunities for them.
India's prosperity is sectioned by geography, such as in Bangalore, where the information technology industry is prominent. Because they have a conduit out of India, competing in the world by the Internet, it's not regulated in corrupt ways, and it is very prosperous.
Normally, Indian companies follow the trend set by companies abroad. There is usually a long lag period.
IT put India on the map of the world and told Indians that they are somebody in the world. There is something about technology that is very empowering: 'We are designing software for the best companies in the world.'
The film industry is large enough and has many successful icons that have taken Indian cinema to shores beyond India. I think that Indian cinema itself needs to be applauded beyond one individual.
As a traditionally risk-averse nation, India has rarely been at the forefront of innovation. Indian companies have mostly imitated others and became very good at it.
Our priority has always been to have the lowest cost so we can be comfortable with weak freight rates. A big part of having the lowest cost is maintaining the largest network, and this means growing market share.
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