Summary – T.V. Mohandas Pai’s Guidance for India’s Edtech Industry
• Advises on the need for self-regulation in the edtech industry.
• Highlights India’s unique human capital for global technology and innovation.
• Suggests India’s potential to be a force multiplier for the US economy.
• Reminds the industry to consider its value and not just its current issues.
T.V. Mohandas Pai offers some guidance for India’s edtech industry as he gets ready to leave the advisory council of troubled online tutor Byju’s: think about the value you bring.
In an interview with Mint, Mohandas Pai stated that the edtech industry, which has been in the news for problems including misselling and widespread layoffs during a period of industry upheaval, ought to organize an organization and develop a code of conduct. “The best regulation is self-regulation.”
Mohandas Pai, the chairperson of Manipal Global Education and a former board member of Infosys, stated that India is the only country in the world with the human capital capable of supporting global technology and innovation on an unprecedented scale, highlighting how this can be a force multiplier for the US economy.
“The India link and the work that they perform in the labs and elsewhere here are what allow the United States to dominate the world in technology on a massive scale. He declared at a session at India Global Innovation Connect (IGIC) 2024 that “the next five years are going to be the most exciting for technology, and India and the United States are going to work closely
The conversation took place between Rajeev Banduni, Co-Founder & Chief Executive Officer of OpenI Partners, India; Sanjeev Gupta, Chief Executive Officer of Karnataka Digital Economy Mission (KDEM), India; and Claude Smadja of Smadja & Smadja Strategic Advisory, Switzerland. During the discussion, Smadja emphasized what makes India’s innovation model unique.
“Human capital is India’s huge strength,” Pai asserted, noting that the largest influx of technology professionals to America every year is from India. “This demonstrates the strength of our workforce. Among the top 10 IT service companies by market value, the top 5 are Indian. Out of 3.2 million employees in these top 10 companies, 2.3 million are Indians.”
Although India has a large pool of tech expertise, Pai pointed out that the country lacks financial resources, noting that only $145 billion has been invested there in the last ten years. “China invested $835 billion, America invested $2.3 trillion, so capital is not there, and that’s the biggest constraint for India.”
However, Pai asserted that public money is necessary for research, pointing out that the government has committed to allocating $6-7 billion over the course of five years, and that is what ought to occur. “When it comes to AI-trained individuals, India leads. Thus, a great deal of innovation will be flowing out of India during the next five years,” he concluded.
CONCLUSION : T.V. Mohandas Pai advises India’s edtech industry to organize and develop a code of conduct, as the industry faces issues like misselling and layoffs, emphasizing self-regulation as the best regulation.
