The business world is being disrupted by the combined effects of growing emerging economies, shifts in global demographics, ubiquity of technology and accountability regulation. Infosys believes that to compete in the flat world, businesses must shift their operational priorities.

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Making a New Year Resolution

by Nandan Nilekani, CEO and Managing Director

It is prudent to start a new year by looking back at the one gone by. At what we have achieved, and the lessons it can teach us.

2006 was a year of great promise for India. No strategic business discussion was complete without a mention of its name.

The numbers were also encouraging. In 2006, India accounted for 65% of the global offshore IT market and 46% of the BPO market. And, R&D spending grew about four times the global average.

2006 was also the year that India and China came to be spoken of in the same breath. Interestingly, at the start of the industrial revolution, India and China contributed close to 45% of the global GDP. By 1970 this figure had shrunk to 7%. Now it is on the rise again. It is expected to climb to 30% by 2040.

However, except for pockets of transformational change, infrastructure worries continue to haunt India. Increased public-private partnership promises to narrow the gap with its rivals, but it will take all of its means and more to make a truly giant leap.

In the meantime, India must play by its strengths. Its educated talent pool has been recognized globally as a desirable workforce. Its experienced managers are sought after by companies seeking to innovate. Technology developed in India is disrupting business models everywhere. India’s growing middle-class is being eyed by growth minded-companies as attractive markets.

Today, India and Indian companies hold the attention of the world’s business leaders. The ball is now in our court. In the year to come, it is up to us to deliver on that promise.

Happy New Year!

Comments

How about making a "Global" New Year Resolution?

The roots of Infosys is in India and everyone admires the positive changes in the nation. But hang on, absurd as this may seem, isn't writing solely about India and its achivements defying the very word "flatness"?

The success of the western world and their consequent uprise suggested the world wasn't flat back then. For every successful nation like the U.S, there was a developing nation like India. The new age success of India, China, and others still does not suggest the world is flat. For every imagination-defying nation like India, there is still an economic and social horror ridden nation like Zimbabwe.

For all one knows, the world is far from being flat; earlier it was uni-polar, and now it is multi-polar.

I am sure that this new year will bring lots of development & improvement in Indian infrastrcutre which will help to sustain growth momentum.

I found something interesting on this blog. Last month Richa wrote "R&D is passé. No one does R&D any longer."

Now Nandan Nilekani writes "R&D spending grew about four times the global average"

I would like to know if no one does R&D any longer, where the spending growth coming from?

Happy New Year to entire Flat World Team

Dear Nikhil,

I think you are reading my post "No one invents..." rather literally. The point I was making is that "innovation" has become a buzz word and that people use the buzzword interchangeably with R&D and invention. The purpose of that post was to define what I mean when I use the word "innovation".

Hope that clarifies the question.

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