India has achieved phenomenal success in becoming the world’s back-office. As Indians we like to believe that TCS, Infosys, Wipro and HCL are IT superstars but none of these companies have been able to move up the stack and create a Google, Apple or Microsoft. Most of the revenues of TCS, Infosys and Wipro come from outsourcing. It can be questioned whether these companies are “glorified BPOs”.
A recent study by a reputable research group states that Indian companies continue to display low levels of ambition, as measured by their commitment to research and development. India's spends 0.7% of its GDP on R&D and this is one-fourth the spending of the US, less than half of China's and lower than that of Brazil.
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India needs a New Revolution
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