Monday, 25 November 2013
Google's executive chairman Eric Schmidt states that India's entrepreneurial innovators have the potential to build the 'next Google' if the country 'plays its cards right' and ensures Internet access for millions of its citizens. In an essay written in 'Reimagining India: Unlocking The Potential of Asia's Next Superpower' edited by global consulting firm McKinsey, Schmidt said that India is 'an Internet laggard'. He added that India needed to increase its Internet penetration in towns and cities to unleash the country's full potential.
"Just think what will happen when
India's entrepreneurial innovators are able to create great global
companies without leaving their country. They will change the world.
Hundreds of large firms focused on the Internet will be founded and will
succeed by focusing purely on Indian consumers, Indian taste, Indian
style, Indian sports.
"Can anyone of those companies ultimately become the next Google? Of course. That may not happen for quite a few
years. But if India plays its cards right, we will soon see Indian
engineers and small businesses tackling Indian problems first, then
exporting the solutions that work best," Schmidt said
India has approx 600 million mobile-phone users, but only 150 million
people regularly connect to the Internet. However India's Internet
penetration rate in 2011 was just 11 percent, which is less than a third
of China's penetration ratio of 38 % and less than half of those in
developing countries (24%).
