India on the cusp of becoming a global tech powerhouse: Industry leaders

NEW DELHI: With its burgeoning tech ecosystem and emphasis on harnessing the power of artificial intelligence (AI), India is on the cusp of becoming a global tech powerhouse, industry leaders said on Friday, ahead of the National Technology Day that falls on May 11.

"From startups to established firms, the integration of AI technologies is unlocking unprecedented efficiency, innovation, and scalability. India's vibrant tech ecosystem, coupled with a young and dynamic workforce, positions it as a frontrunner in the digital era," said Abhishek Gupta, Managing Director of IT company SailPoint India.

The government's acknowledgment and initiatives aimed at harnessing AI's potential underscore the understanding that technology holds the key to the next phase of growth and prosperity.

Rohit Jetly, Country Head-India at Fidelity International, said the convergence of generative AI, data virtualisation and other cutting-edge technologies is revolutionising how we think about traditional sectors and ways of working.

"These herald a transformative era, reshaping industries and driving unprecedented innovation and efficiency, which is exactly what we need in the Indian global capability centre (GCC) space," he noted.

GCCs are also leading the way and broadening the canvas of cutting-edge tech for "our people to have the opportunity to upskill themselves and add value to the world from India," said Jetly, also Head of Global Platform Solutions-Platform Delivery.

According to the latest report by Nasscom in partnership with BCG, the AI market in India is expected to reach $17 billion by 2027