Here is a post on the technological innovation lead that India and China may take over the US on FastCompany
Bill Gates is in India this week, talking to a variety of government officials, business leaders, and technological allies. He announced that Microsoft was going to invest $1.7 billion in India over the next four years, increasing its workforce in India by 3000 to a total of 7000.
A survey in our latest issue (still behind the subscriber wall) has our online readers saying that the Unites States lost its edge in innovation. Who do they believe is surpassing us? China and India both, with China less than 2% ahead of India. It seems Gates agrees with those of you who were polled.
Why is India becoming a leader in technological innovation?
And this is my take on it:
China’s boom is Government-led and not much has been forthcoming from the Private Sector in terms of initiative. Much of this is also to be attributed to the subsidies provided by the Government there.
India’s rise, on the other hand, is more Private sector driven! Government has had little hand. In fact the joke goes around that IT boom is BECAUSE the Government kept away from IT while it meddled in the other industries!
There is little substitute for Private initiative when it comes to tech innovation!
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