Can India become an important supplier of new technologies, delivering innovation to the rest of the world?
Already, it is. Many Indian companies have created innovative business models that are fundamentally disruptive, for example, ICICI Bank and Bharti, which are now getting exported globally. ICICI Bank offers services in the UK and Canada and Bharti is seriously looking at servicing international markets. What telecom innovations are you referring to? Telecom companies have been able to create very profitable operations and at the same time dramatically reduce the price of phone calls as well as the value of each recharge. They have been able to create high volume, very low cost, high quality solutions. And as they go and offer these abroad as a service, they will be competing aggressively with local providers. They have managed to come up with ways of sharing infrastructure, for example, making investments in technology on a variable basis. Instead of spending a lot of money buying capital equipment, they pay their technology partners on the basis of the usage of the equipment-the part
