Meeting PR agencies from different regions around the world is something we are always keen to explore. Whether that’s to work in partnership with one another, or simply to understand and learn more about their region.
We recently spoke to Mitabh Saud, director of India Operations at Priority Consultants about why India’s tech sector is booming, and what the future holds for tech businesses there.
Firstly, can you tell us a bit about Priority Consultants including which industries your clients operate in and across which locations?
We are a regional PR, marketing, and communications firm headquartered in Singapore and present in the fastest-growing economies in Southeast Asia, as well as India.
We provide public relations consulting, media relations, content strategy & generation to clients in the technology, professional services, healthcare, energy, and logistics sectors.
We measure success in delivering sustained programmes that help our clients build their brands and be successful – this is why they stay with us for an average of more than five years.
The Indian tech sector is growing – set to hit $245 billion by the end of this financial year, growth of 8.4% on the previous year. What is driving this growth and what are the catalysts for this acceleration? How does this compare with other regions across Asia?
From the outset, Priority has focused on the technology sector and our evolution as a company, has paralleled the changes and growth across all aspects of IT and its integration into the fabric of our economies and organisations. Everyone today is a sophisticated consumer, and also user of technology, from mobile devices and cloud storage, to online shopping, banking, and e-government.
In this context, it is easy to understand why technology will play a pivotal role in propelling India to a 5 trillion-dollar economy, and to this end, the government has termed the period 2020 to 2030 as “techade” – meaning technology will be the key driver of economic growth in this decade. This has spurred innovation in the tech community and attracted large-scale investment, creating a sustainable loop of growth and opportunity.
Beyond India, we see similarities with Southeast Asian countries such as Indonesia and the Philippines, with young digital-native populations and governments who are pro-actively endorsing more widespread technology adoption through policies and investment.
What are you seeing around the adoption of generative AI in the region and how (and why) might this differ from other regions?
India, is in a powerful position to set the agenda and reap significant benefits as the world adopts AI. While 2023 was a year of rapid innovation, in the next decade, Generative AI will break out from labs and Proofs of Concept (POCs) into the open terrain of consumer and enterprise applications. Millions of Indian citizens stand to benefit from next-generation scaled AI applications across industries with the biggest impact on healthcare, drug discovery, financial services, education and entertainment.
Just look at ChatGPT which launched to such acclaim just months ago and how it has provided companies and individuals a “playground” to explore simple AI at work. We have also benefited enormously from using the tool for basic research.
From where we are today, I am confident but also fearful that the applications of the future will indeed be the stuff of our wildest dreams and possible nightmares.
India’s services exports (both IT and BPO) are well-known around the world. What makes Indian tech talent so appealing?
In a nutshell, our history and experience are supported by the availability of top tech talent which we see not only here at home, but globally running IT infrastructure and services across multiple sectors. Tech talent from India is attractive because they are adaptable, speak the language and are highly skilled.
Where are the current hotspots for tech talent in India and why? Can you share any market insights on diversity in tech talent, particularly women in tech, in India – and why the situation is as it is?
India’s tech industry currently employs over 5.4 million people out of which digital talent accounts for 36-38% of the workforce. While Bengaluru (Bangalore) leads India’s mature and emerging tech hubs with 25-26% of India’s digital talent, it is followed by Mumbai (15-16%), Delhi NCR (14-15%) and Hyderabad (13-14%) with Chennai & Pune accounting for 9-10% each of the total digital talent pool. (Source: NASSCOM)
Excitingly, women make up 36 per cent of India’s tech workforce but this drops drastically as one goes up the corporate hierarchy. Resolving this age-old issue is not just related to India, and could potentially open the door to many more opportunities for success.
This is a two-part series, here is the next instalment of our conversation with Mitabh.
