India was long seen as an outsourcing destination for companies in Europe and the United States. But the country is starting to transform itself. Its IT industry is blossoming into a global innovation hub. NHK WORLD's Neha Gupta has the details.
An IT event was held in Bangalore in October. 120 companies took part-- all of them start-ups.
Users of this application can chat with restaurants, make reservations, and place orders on the spot. A variety of items are displayed from several fashion websites. Users can pick things they like and see how they look when they are put together.
One entrepreneur says he has been busy trying to boost growth through marketing and PR. His company has grown more than 20% in the past 3 months.
India achieved rapid economic growth as an ideal outsourcing destination. But its IT industry is starting to prosper. Young people who studied computer programming at university have gained experience working for overseas firms, and they've returned to India, armed with their new skills.
Mu Sigma, a company specializing in big data, employs 3,500 engineers. It has developed artificial intelligence that can support sales and purchases of stocks and foreign currencies. The program can analyze investment data in a split second and pick stocks to buy or sell. It allows diversified investment very quickly.
Mu Sigma has also created a service that could revolutionize marketing. It uses cameras to capture customers' faces up close when they look at products. Software is used to analyze the images and measure changes in customers' body temperatures. An increase indicates the customer's interest. Such information is crucial when developing new products and planning advertising.
The company's products are attracting the attention of businesses across the world.
Visitors are eager to learn more about them. An official from a Japanese IT company was impressed by the development team and their freewheeling thinking. He said Indian technology is catching up with that of developed nations.
Mu Sigma Chief Executive Officer Dhiraj C. Rajaram says Bangalore is the next Silicon Valley. He says the success of his company and others in the field are boosting the city's innovation level.
With its creative, highly-skilled workers, it looks like India has a bright future ahead as a technology hub that can bring sweeping innovation to the world.
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