India’s economy is undergoing massive changes due to building digital infrastructure, said Pramod Verma, former chief IT architect of several leading developers in the country. He expects Indian companies to make major contributions in areas like credit system, logistics and e-commerce in the next three years.

“We can accelerate growth by using open standards and data, artificial intelligence (AI) to help innovators and start-ups adopt market innovation,” Pramod Verma said while addressing an international conference on digitalisation.

The speaker pointed out that business representatives should inculcate an entrepreneurial spirit in the youth and encourage talented students from universities and schools with good technical skills, as reported
Trinity Mirror, a partner of TV BRICS.

Earlier, the country’s Prime Minister Narendra Modi said India has the third largest startup ecosystem in the world. Authorities currently support 100,000 startups and 113 unicorn companies (firms with a capitalisation of over US$1 billion in a short period of time) established in the country.

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