Cisco Systems, Inc. (NASDAQ:CSCO) executive chairperson John Chambers hinted the setting up of a manufacturing plant in Pune India. Chambers was speaking at CNN business forum conference in Mumbai. Chamber noted that India is in the right direction of technological development and is set to become the Asian Hub of technology. Chambers noted that eighteen months ago, he had spotted India as the country which is in harmony with the speed of innovation in the digital age.
Chambers strongly emphasized the importance of companies digitizing. He noted that close to 40% of non-tech companies, which fail to digitize within the next 4-6 years, will disappear. This statement is a strong reflection of the current digital age, which is slowly spreading to all countries at a steady pace. The ability of technology to deliver fast and efficient services is the primary drive for its adoption. Chambers noted that most jobs in India and the US will be as a result of start-ups. Currently, Cisco have funded 25 Indian start-ups.
India is not only growing in technology but other fields the likes of electronics, pharmaceutical and auto industries are growing. These industries will slowly meet the same fate as technology, implying a consistent growth in the right direction. Chambers particularly noted that despite the political divide, which is present in the country, when the concept of growth is at hand, India comes together. He was particularly emphasizing on the need of cooperation for sustainable development.
India was noted as a country that will leapfrog its global counterparts and will no longer follow what other have done but will be a leader regarding Innovation and leadership. Chambers noted that India is a young nation with 1.2 billion people, and the government was an end-to-end strategy for future economic development. The strategies include reskilling, people and, introducing initiatives like make in India, Digital India, and Startup India
Chambers was full of praises for Indian Prime Minister, Narendra Modi. He regarded him as a top visionary leader who has all essential elements necessary for growth.