MUMBAI: India is among the top three countries with the potential to achieve technology breakthroughs that will have a global impact over the next four years, according to a survey of technology executives worldwide.
KPMG polled 811 business executives from organizations focused on the technology space, in the Americas, Asia Pacific, Europe, Middle East and Africa, for its 2013 Global Technology Innovation survey. Respondents were asked to rate their country on ten success factors including talent, infrastructure, incentives and capital.
The US and China topped the 2013 Global Technology Innovation Index with India in third place.
India also topped the Confidence Index, and was in second place in terms of becoming the leading innovation centre for the world and third in the list of the most promising countries for disruptive breakthrough.
Topping the Confidence Index was, said Pradeep Udhas, head of markets, KPMG India, "a confirmation of business leaders' faith in the country's technological capabilities".
He acknowledged concerns about data privacy and local technological infrastructure but told Livemint the outlook for the sector was "largely positive" and added that the government could assist the sector by making access to capital easier and strengthening the laws on intellectual property.
The survey expected cloud computing and mobile to continue to gain momentum as the most disruptive technologies in consumer and business markets over the next three years, while biometrics, data and analytics technologies would also be at the forefront of development.
"Cloud computing and mobility have the potential to redefine the Indian IT landscape," remarked Udhas as he noted the Indian government was one of the biggest drivers of the cloud. And he declared that "the opportunities in this are going to be limitless," pointing to the 800m mobile subscribers in the country.
He foresaw the emergence of "world-class Indian product firms" from the current booming start-up scene.
But a separate Global Innovation Index compiled by INSEAD, Cornell University and the World Intellectual Property Organisation was less optimistic about India's prospects, ranking it at 66th out of 142 nations.
Commenting on Bangalore's position as a hub of IT innovation, Bruno Lanvin, executive director at INSEAD, said: "For Bangalore the challenge is to build an IT hub which is multi-sectoral, and not only based on IT services."
Data sourced from Livemint, Business Today; additional content by Warc