Industry-academy alliance can sharpen talent edge
India is becoming the tech and talent backbone for several global companies, and this advantage can be harnessed further through greater partnership between industry and academic institutions, leading industry executives said on Saturday.
The experience of Uber in the country and the evolution of the company's product portfolio has led to its ambition of "becoming a one-stop shop for mobility for all consumer needs in India," Shiva Shailendran, director, consumer growth and categories, Uber India & South Asia, said at the ET Now Global Business Summit during a panel discussion on Building the India Advantage.
Uber, which has been present in India for 13 years, has transformed from being just a four-wheeler focussed company to also having three-wheeler, two-wheeler and metro ticketing services.
Build in India, for the World
"A lot of these products that I just mentioned are India-first products. They're now being exported globally. We are also having the opportunity to build a huge tech team in India based out of Bangalore and Hyderabad. A lot of tech for Uber globally is now being built out of India. And this unique consumer segmentation provides us the opportunity to then double down upon what we need to do to trigger growth over the next five years," Shailendran said. The goal keeps shifting.
"We started as just a four-wheeler ride sharing player, the ambition has now shifted to becoming a one stop shop for mobility for all consumer needs in India," he said.
global talent/tech backbone
India is becoming both a tech and talent backbone for global enterprises. Ruchika Panesar, country head, India, NatWest Group, said the UK-based bank has one third of its workforce in India.
"And for us the India advantage is in the demographics, is in the talent play," she said. "When you think of us, we in India are about 18,000 colleagues. We're about a third of the global bank in the country, and we're a microcosm of the global bank. We run a lot of our technology, data, AI, finance, risk operations out of India, and we take advantage of that phenomenal talent base."
The digital India expansion has created a unique talent pool the companies have found useful. The UK-based bank's India focus is not about cost but about the talent that it offers. "Over the last decade, the innovation that has happened in the digital public infrastructure all the way up and down the stack, and how that has had an effect on that demographic and the talent is what we are taking advantage of, even as we build our teams here," Panesar said.
Data costs are critical, said Rajesh Chandan, chairman, Elements Wellness-Indiashopee."Today if you see, the internet cost in India is just ₹10 to 15 per GB compared to the world, where the average is around $3-4 per GB. This has made for an India advantage, to scale up at a larger level, the smallest tier-2 or tier-3 cities can also export their goods, can reach the global audience," Chandan said. "We at Elements Wellness have 900-plus points of sales. We have five lakh-plus wellness experts. We make sure that all our transactions are 100% digital."
Education sector opportunity
The panellists said there is a need for greater partnership between industry and academia to harness the India talent advantage.
"Teachers have to be the leaders, and leaders have to be teachers," said Sanjay Salunkhe, CMD, Jaro Institute of Technology, Management and Research. "So, when the corporate guys come into academia and tell what is required by the corporate world, then only the actual education will be fruitful and meaningful. Then only all grads are going to be employable."
Several faculty members of IIM Ahmedabad, for example, are directors of companies, and they share in classrooms what they learn in boardrooms, Salunkhe said, adding, "That's why the employability is best" for IIM students.
"Demographics are in favour of India--65% of our population is below the age of 35, that's one biggest advantage," he said. "Second advantage is, in India, we first tell our kids, learn, learn, learn and, later on, if it's difficult, earn and learn. And if you look at the global market on digital learning, edtech, it is globally around $250 billion and is expected to be more than $400 million by 2030." He pointed to the growth prospects for higher education. "Same way in India, the total addressable market for higher education, online and certification was in 2023 around ₹13,200 crore, which is expected to be by 2028, ₹41,450 crore," he said.
The experience of Uber in the country and the evolution of the company's product portfolio has led to its ambition of "becoming a one-stop shop for mobility for all consumer needs in India," Shiva Shailendran, director, consumer growth and categories, Uber India & South Asia, said at the ET Now Global Business Summit during a panel discussion on Building the India Advantage.
Uber, which has been present in India for 13 years, has transformed from being just a four-wheeler focussed company to also having three-wheeler, two-wheeler and metro ticketing services.
Build in India, for the World
"A lot of these products that I just mentioned are India-first products. They're now being exported globally. We are also having the opportunity to build a huge tech team in India based out of Bangalore and Hyderabad. A lot of tech for Uber globally is now being built out of India. And this unique consumer segmentation provides us the opportunity to then double down upon what we need to do to trigger growth over the next five years," Shailendran said. The goal keeps shifting.
"We started as just a four-wheeler ride sharing player, the ambition has now shifted to becoming a one stop shop for mobility for all consumer needs in India," he said.
global talent/tech backbone
India is becoming both a tech and talent backbone for global enterprises. Ruchika Panesar, country head, India, NatWest Group, said the UK-based bank has one third of its workforce in India.
"And for us the India advantage is in the demographics, is in the talent play," she said. "When you think of us, we in India are about 18,000 colleagues. We're about a third of the global bank in the country, and we're a microcosm of the global bank. We run a lot of our technology, data, AI, finance, risk operations out of India, and we take advantage of that phenomenal talent base."
The digital India expansion has created a unique talent pool the companies have found useful. The UK-based bank's India focus is not about cost but about the talent that it offers. "Over the last decade, the innovation that has happened in the digital public infrastructure all the way up and down the stack, and how that has had an effect on that demographic and the talent is what we are taking advantage of, even as we build our teams here," Panesar said.
Data costs are critical, said Rajesh Chandan, chairman, Elements Wellness-Indiashopee."Today if you see, the internet cost in India is just ₹10 to 15 per GB compared to the world, where the average is around $3-4 per GB. This has made for an India advantage, to scale up at a larger level, the smallest tier-2 or tier-3 cities can also export their goods, can reach the global audience," Chandan said. "We at Elements Wellness have 900-plus points of sales. We have five lakh-plus wellness experts. We make sure that all our transactions are 100% digital."
Education sector opportunity
The panellists said there is a need for greater partnership between industry and academia to harness the India talent advantage.
"Teachers have to be the leaders, and leaders have to be teachers," said Sanjay Salunkhe, CMD, Jaro Institute of Technology, Management and Research. "So, when the corporate guys come into academia and tell what is required by the corporate world, then only the actual education will be fruitful and meaningful. Then only all grads are going to be employable."
Several faculty members of IIM Ahmedabad, for example, are directors of companies, and they share in classrooms what they learn in boardrooms, Salunkhe said, adding, "That's why the employability is best" for IIM students.
"Demographics are in favour of India--65% of our population is below the age of 35, that's one biggest advantage," he said. "Second advantage is, in India, we first tell our kids, learn, learn, learn and, later on, if it's difficult, earn and learn. And if you look at the global market on digital learning, edtech, it is globally around $250 billion and is expected to be more than $400 million by 2030." He pointed to the growth prospects for higher education. "Same way in India, the total addressable market for higher education, online and certification was in 2023 around ₹13,200 crore, which is expected to be by 2028, ₹41,450 crore," he said.
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