India among top 3 countries in KPMG technology innovation survey

India ranks second in becoming the leading innovation centre for the world
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First Published: Thu, Jul 18 2013. 05 03 PM IST
Cloud computing and mobile are expected to continue to gain momentum as the most disruptive technologies in consumer and business markets over the next three years, according to the Global Technology Innovation survey. Photo: Hemant Mishra/Mint
Cloud computing and mobile are expected to continue to gain momentum as the most disruptive technologies in consumer and business markets over the next three years, according to the Global Technology Innovation survey. Photo: Hemant Mishra/Mint
Updated: Thu, Jul 18 2013. 05 04 PM IST
Mumbai: Technology executives worldwide believe that the US, China and India are the top three countries with the potential to drive technology breakthroughs that will have a global impact in the next four years, according to the 2013 Global Technology Innovation survey released by consultancy firm KPMG Llp on Thursday.
The US and China had tied for the top spot in the 2012 survey. However, this year, 37% of the respondents said the US shows the most promise for disruptive breakthroughs, while China ranked second with 24%, and India came third with 10%, followed by South Korea (7%), Japan (6%) and Israel (6%). Moreover, India ranked second in becoming the leading innovation centre for the world, third in the list of the most promising countries for disruptive breakthrough and fourth-most friendliest technology innovation country.
In the April-June quarter, KPMG surveyed 811 business executives from organizations focused on the technology space. Of these, 34% were in the Americas, 37% in Asia Pacific and 30% in Europe, Middle East and Africa. The index is based on tech leaders in each market rating their country on 10 success factors including talent, infrastructure, incentives and capital.
On the basis of availability of talent, development of disruptive technology breakthroughs, mentoring and access to innovation network (founders, CEOs, etc.), access to alliances or partnerships, supporting ecosystem (law firms, venture capitalists or VCs), access to capital, education system, ability to drive customer growth and government incentives, India ranked number one with an index score of 72 followed by Israel with 71, while the US came in third with 65 and China was fourth with 64 in the technology confidence innovation index.
“In the field of technology, India’s farsightedness and focus on innovation have helped it seize the third spot in the 2013 Global Tech Innovation Index. That’s not all. India’s topping the Confidence Index is a confirmation of business leaders’ faith in the country’s technological capabilities. Despite several concerns on data privacy and local technological infrastructure, the outlook for the sector is largely positive. The government can assist the technology sector by enabling easier access to capital through investor friendly policies and strengthening IP protection laws,” said Pradeep Udhas, head of markets, KPMG in India.
Cloud computing and mobile are expected to continue to gain momentum as the most disruptive technologies in consumer and business markets over the next three years, according to the Global Technology Innovation survey.
The technology leaders also expect biometrics and data and analytics technologies to develop, the survey said.
“Cloud computing and mobility have the potential to redefine the Indian IT landscape. With the Indian government emerging as one of the biggest drivers of the cloud, the opportunities in this are going to be limitless. Moreover, with over 800 million mobile subscribers, mobile applications can help in increasing financial inclusion for a large part of the untapped population. The booming start-up scene in the country is helping in the development of exciting cloud and mobile platforms, and in the coming years, this will, I believe, lead to the emergence of world-class Indian product firms,” said Udhas.
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First Published: Thu, Jul 18 2013. 05 03 PM IST
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