Can Indians build world-class tech companies?
Contrary to Apple co-founder Steve Wozniak's assessment, the issue is not a lack of creativity but structural problems such as participation in global value chains
Apple co-founder Steve Wozniak’s recent comment doubting the creativity of Indians was ill-informed at best. But his criticism about the absence of companies making big advances in technology is indisputably true, sizable companies like Infosys Ltd and Tata Consultancy Services Ltd (TCS) notwithstanding. Out of the seven Indian companies that made it to 2017’s Fortune 500 list, three are private companies—Reliance Industries, Tata Motors and Rajesh Exports—and none is a tech company.