India will create all softwares to run the world in 10 years: InMobi founder
1 min read 16 Nov 2022, 11:06 PM ISTInMobi, an advertising technology firm is valued for becoming India's first unicorn in 2011Naveen Tewari has assured that India builds world-class products used by people across the globe
PremiumNot everything is well in the Indian IT industry with layoffs, contention between employees and companies over policies like moonlighting, and the struggling global economy, but InMobi Group founder-CEO Naveen Tewari has vested trust in the sector and assured that India builds world-class products used by people across the globe. He also stressed that in the next 10 years, India will create all the software in the world.
"In the next 10 years, India will write all the software on which the world will run, with Bengaluru at the heart of it," Tewari said as the guest of honor on the inaugural day of the 25th Bengaluru Tech Summit.
InMobi, an advertising technology firm is valued for becoming India's first unicorn in 2011. Tewari stressed that Bengaluru should not be called the 'Silicon Valley of India' anymore and should be known by the name 'Bengaluru of Bharat' which will be the heart of India's and the world's greatest innovation.
He also emphasized the transformation India went through especially in the area of digitization and the pace of this transformation was also impressive. Tewari notes that India is well on the way to dominate the world in software in the next few years.
The kind words from Tewari came at a time when the technology sector’s contribution to active job offers fell to less than 50% for the first time in three years in October. Various hiring platforms like Monster.com are reporting trends where jobs in the IT sector are dipping.
The IT sector was the top employer until last year, contributing around 80% of the total Indian jobs, a report by Xpheno said. While hiring by IT services and software service sectors fell 14% and 8%, respectively, a drop of 15% was recorded in jobs for internet-enabled services and startups. In contrast, banking, financial services, and insurance recorded 21,000 active openings in October against 17,000 jobs in September.
“This is the lowest active job volumes from the IT sector in over 28 months," said Anil Ethanur, co-founder, of Xpheno.
With inputs from PTI
