Business
Today (Collector's Edition Volume-II) April
10, 2002
As
infrastructure develops, India will most likely
emerge as one of the world’s major centres for
high-technology activities in the 21st century.
Ratan
Tata, Chairman
The
Tata Group, like the rest of corporate India,
is endeavouring to revitalise itself to meet the
challenges of a new world without boundaries where
goods and services will traverse freely and where
world-class competition will eliminate the weak
and inefficient. The group is therefore undertaking
a restructuring exercise to provide greater focus,
business rationalisation and synergy in its enterprises.
Simultaneously, the group is actively expanding
its footprint in the fast-growing areas of information
technology and communications. It is expected
that this will result in a leaner, more aggressive
and more focused Tata Group, which would be quick
to change course and be in sync with the rapidly
changing environment in which we now live.
Rapid
technological changes, particularly in information
technology and communications, have significantly
impacted the way people live and conduct business.
I only have to cast my mind on what it meant to
call home in the 1960s when I was a student in
the US – the endless wait for the operator to
put the call through, the uncertainty about when
the connection would mature – and compare it with
the ease with which we can now connect to the
world even from the remote parts of India by direct
dialing. As Bill Clinton reminisced in a recent
lecture, when he became President in 1993, there
were a mere 50 websites in existence but when
he left office eight years later, there were 350
million of them, and rising.
The
revolution in connectivity has been the binding
force and facilitator in this information age.
The Internet has connected millions of people
in a manner that could never have previously been
conceived; with an e-mail address you are online
to the world – and nobody need know in which country
you live or from where you are communicating.
The cellular phone has enabled personal voice
communication between people wherever they may
be. This level of connectivity has virtually shrunk
our world.
In
the period ahead, improvements in connectivity
will bring about still more significant changes
in the way people work and live. Companies will
receive data in real-time, turnaround times will
be faster, and the quality of information will
be better-leading to superior decision-making.
Virtual meeting via video conferencing will become
commonplace and individuals will interact with
each other effortlessly through voice telephony,
the internet and e-mail via cellular phones. At
home, people will increasingly put more products
and services as well as conduct their financial
transactions online. Instant communications will
enable greater remote medical treatment and enhanced
communications will speed the transfer of data
for research. Advances in biotechnology and nanotechnology
could make an immense difference to the health
and well-being of human beings.
India’s
passage to the 21st century has been greatly aided
by its adoption of state-of-the-art technologies
in its telecommunications infrastructure. In personal
communication and in commerce, Indians utilise
many of the same tools in use elsewhere in the
world. Indian companies and their senior executives
are reorienting themselves to make the greatest
use of these new technologies in their business
transactions and their personal communications.
Looking
ahead, improvements in connectivity will be one
of the important foundations
To
enable India to be part of the modern world. Connectivity
will be in two forms physical connectivity, in
the form of highways, ports, bridges, tunnels,
and the like and electronic connectivity, in the
form of telephony, video, computers and internet.
The India of tomorrow will see enormous investment
in projects to enhance connectivity within the
country, and this will change the quality of life
or most of the Indian people when such infrastructure
becomes freely available.
The
challenge for India will be to ensure that the
country makes the necessary investments in infrastructure,
in improving its business climate and in research
and development. In the recent times, several
Indian engineers and entrepreneurs have made their
mark overseas, where the opportunity and market
potential have been far greater than in India.
However, as the infrastructure develops to support
technology applications, India will most likely
emerge as one of the major centres for high technology
activities in the 21st century.
The
vision I have for India in the next decade is
of a nation with vastly improved connectivity
in communications providing education, personal
interaction, e-commerce, and telephony contact
for the overwhelming mass of its people. I see
our country being connected through major highway
networks, thus shrinking the time required to
move goods to the marketplace. I see our consumers
exercising an unprecedented degree of choice,
with the Indian marketplace becoming a vibrantly
competitive arena, fully integrated with the world.
Equally, I foresee that the ambitions of the Indian
entrepreneur will not be confined to domestic
boundaries and our immensely valuable human capital
will leave its mark in the global marketplace.
For India, particularly for its youth, the period
ahead provides unprecedented opportunity and an
extremely exciting future.