New Delhi, April 10 (PTI), a battalion of the world’s cheapest data and a battalion of app developers now needs to train large awards in the construction of Tesla, Huawei and TSMC on more complex problems and big prizes, a top marketing professor said in a debate.
Rajendra Srivastava, who is considered the Philipp-Kotler of India, wrote on the Medium.com, said that the consumer-technology successes of the last decade have helped in creating a vibrant digital economy, but to emerge as a true technology power plant for India, it should be beyond a quick-service app and fulfill the deepest capabilities in science and engineering.
While consumer technology has developed, India has to pive towards deep-technical industries-Artificial Intelligence (AI), Electric Vehicles (EVS), clean energy, robotics and semiconductors are more R&D-loser than field sectors such as clean energy, robotics and semiconductors and require “patient capital” and long-term vision to bear the fruit.
Rajendra Srivastava said, “Unlike a food distribution app, which can be made and scaled in a year, a state-of-the-art battery chemistry startup or a semiconductor Fab may require a 5-10-year continuous investment before showing the result,” said Rajendra Srivastava, who is the former deen of the Indian School of Business (ISB) and the Non-Professor of Marketing Strategies and innovation.
This long pregnancy period, he said, the struggle with rapid exit and quick returns has been traditionally sought by many Indian investors.
Deep-tech ventures often enter high technical risks and uncertain near-term profits, which means that the initial stage capital must be ready to wait for a long time for payment.
“Historically, India has a lack of patience, long-term financing and policy compatibility, demand for deep technology innovation. Most of its share from private venture capital-healthy investors in India-most of its share-less capital-intensive models (mainly apps and software) are gravitational which promised rapid user growth.
He said, “The result was a brightness of on-demand services and consumer platforms, while hardware and deep science startup struggled to raise money,” he said that the manufacture of deep-technology industries also requires stable, coordinated government policy in decades.
He cited Chinese examples, identified strategic areas through programs such as Made in China 2025 and 14th Five Year Plan and unwavering with funding, infrastructure and purchase.
“India, on the contrary, recently took an attitude with a more hand-focused on improving the ease of improving the trade and digital infrastructure, but did not actively operate the investment in the specific high-tech domains,” he said.
Saying that continuous long-term policy support has disappeared and initiatives for manufacturing and R&D were often half measures or spright, he said that in the last few years only the Government of India has draped a comprehensive national deep national deep technology startup policy to provide long-term funding, an IP framework and regulator sandbox for deep-tech firms.
He said, “These steps are promising, but they have got the first steps – India is just starting to form a policy basis, which countries like China have formed for decades,” he said, in deep technology, policy stability is important as capital.
Speaking in the second edition of the government-led start-up conclave startup Mahakumba, earlier this month, there was a big debate on social media after a difficult look on India’s consumer startups.
Joking in the rise of food delivery apps, artisan brands and online betting apps in the country, Goyal said, while India’s startups were still focusing on lifestyle products such as large-scale gluten-free ice creams, making Chinese machine learning, robotics and next-jewelery factories.
“Goyal’s criticism may have rubbed wings in the startup community. Nevertheless, it is true: The world’s cheapest data producing nation and app developers now need to train their places on more complex problems and big prizes. It is not a recognition of Flipkart and Zomato, but a recognition is not a recognition of the next phase, but the next phase will have a development of the next phase.”
He said that reaching there would require uncomfortable changes – more patience, investment without immediate payment, and more cooperation between the government, industry and academics than India, he said.
“Global technology landscape is developing in S -Vakra Chakras, and India recalled some waves (semiconductors, electronics manufacturing) riding well (IT services, mobile software) riding. The upcoming waves – AI, AI, clean energy, space, advanced manufacturing – provide another chance to climb on the price chain,” he said.
“A recurrent strategy that gives importance to both the convenience of a food app and the complexity of the silicone chip is required.”
In short, consumer apps have served India to the present; Deep-tech innovation will shape India’s future, he said, adding a better balance between the two, will pave the way for the emergence of India as a technical and economic superpower in decades with an overdue inclination towards the tech.