Former McKinsey Head Rajat Gupta an Indian-born IT specialist said that the Indian IT industry needs to be in “Panic” mode because it has not kept the pace with continuously changing fast and innovative IT industry
He further added, that IT industry have to focus more on innovation, getting IT work automated and advanced innovations like; AR, AI, VR and cloud computing are the real game changers now.
“CODE WRITING AND TESTING IS THE MOST INEFFICIENT INDUSTRY THAT EXISTED” he said.
The Indian IT industry is in panic and it should be because fast changing technology is overtaking them and they haven’t invested much in that” said Gupta.
Gupta was the former director of Goldman Sachs an investment banking company headquartered in New York. He was sentenced prison for two years convicted for insider trading.
Last year, he was considered for the role of Chairman in WHEELS Global Foundation, which is a US-based non-profit organization. The company focuses on applying technology to uplift rural communities and provide technological solutions to global challenges.
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Experts in IT industry are ringing the bell for prolonged layoffs in the Indian IT sector.l A new wave of protectionism policy in major global markets such as; US, Singapore, Australia and New Zealand closing the doors upon IT engineers from India.
Gupta said there is dire need for “Revolutionary Education” where imparting knowledge has to move from being in lecture mode to being more interactive, digital and participatory.
Considering the population and industries in growth, it is India’s first priority to create 20 million jobs a year but it is far too behind in that. Most of the efforts to skills in India are the failures, taking an government scheme, are youth really skilled when they come out, never, he said.