‘India not a support centre for global firms anymore’: KGISL CEO Prassadh Shanmugam

India is not a support centre for global companies anymore, it is a global hub for innovation, said KGISL CEO Prassadh Shanmugam. India will emerge as a leader in the product space and not just a player, he said. 

Speaking to Business Today TV as part of the EY | BT Hidden GEMs series, Shanmugam said, “India used to be a support center for global companies. Not anymore.”

He said that the scenario has now changed and is rapidly changing too. “India has fundamentally transformed from an outsourcing destination into a global hub for innovation and advanced engineering. And the country plays a very critical role right now in AI development, cloud native engineering, digital operations and enterprise product innovation,” said Shanmugam. 

He said that a lot of Indian companies are now building products that are becoming world-class too, and not centred around a particular region. 

“There are a lot of emerging companies which are betting big, in terms of products, and that is going to change the entire landscape. I think the future-ready workforce that is available is key to this and the public infrastructure that is available and the digital public infrastructure that is available, is key to this,” said Shanmugam. 

The KGISL CEO said that in the next few years, India is going to emerge truly as a leader and not as a player. “It’ll truly emerge as a leader especially from the product space and as well the innovation space as well. We will emerge a key leader here,” he said. 

Watch the full conversation here: