Leading Silicon Valley technology entrepreneur and strategic consultant Sramana Mitra, was kind enough to take the time to answer some questions about her visionary and highly imaginative book Vision India 2020.
Sramana describes a series of fictional, yet very plausible and successful business enterprises in India, seen from the vantage point of ten years from now. She highlights many tremendous, and untapped business opportunities awaiting entrepreneurs in India's rapidly growing economy. Sramana goes far beyond the traditional technology outsourcing model that turned India into the back office of the world. She shares her ideas for a far more all encompassing entrepreneurial revolution that will transform India far beyond anything ever seen in that vast country.
Thanks to Sramana Mitra for his time and for her very intriguing answers.
What was the background to writing this book Vision India 2020?
In 2020, I envision a more international India. The India of the future will have grown more open and engaged with the world, yet is not imperialistic, but diplomatic and benevolent. An India capable of complementing its natural strengths with those of its international collaborators. A high-velocity India unencumbered by mindless bureaucracy. A thinking India that can envision its own products, rather than blindly executing on American specs. And finally, a bold, confident India, having shaken off centuries of servility to stand on its own two feet and look out upon its own infinite possibilities. This is what I have said in the book, and elaborated through 45 billion dollar business ideas. The book, in essence, is my notebook of ideas based upon which I hope entrepreneurs will build ventures and take India to its next level of creative development.
Why did you choose to set the stories ten years into the future?
I think, there's something incredibly powerful about showing a vision in as concrete terms as possible. By setting the stories in 2020, I was able to achieve this - show a manifestation of a reality that hasn't happened yet, but by using fiction, I have shown how it might look.
India has experienced extraordinary growth. Do you expect this growth explosion to continue on into 2020 and beyond?
I do. The book is aimed to ensure that it does.
India is known for being a "back office" in technology. Do you forecast a diversification away from outsourced technology and into other industry sectors?
Yes. I have dealt with this issue extensively in the book. India needs to look way beyond outsourcing and back office. It needs to build chips, software, consumer products of its own that meets world class quality standards. It needs to innovate. And I believe it can.
What is the future for technology and technology related industries in India?
India is trying to move up the value chain and do more innovative, product oriented work. It has been a slow movement, but with the right leadership, it certainly can accelerate. In stories such as Nucleon, PIA, Convert, MIT India, Lucid, etc. I have shown paths of how India can make strides in this direction.
Sramana Mitra (photo left)
How is India coping with the need for more intensive and modern infrastructure needs while remaining concerned with the environment?
Not terribly well so far. This remains a concern, and I have addressed some of the areas including water, energy, transportation and logistics in the book with specific strategies.
India has a large rural and slum population that has lagged behind the development curve. How can these millions of people benefit from India's prosperity?
India's development is largely urban. This has created ridiculous migration from rural India to the metros. As a result, the slum populations have sky-rocketed. It's scary how bad the environmental situation is. This is simply not the right strategy. We need to create opportunities to be able to spread things out. Rural and small town India needs the infrastructure with which to retain their population. Otherwise, we're heading towards unlivable cities. I have an entire section on rural and slum development in the book addressing specific opportunities and solutions.
Healthcare is a large and growing sector in India. Do you see this trend continuing even more rapidly in the next decade?
It has to. But again, it needs to keep in mind the needs of the broader population, not just the urban rich and big-salaried middle class.
India boasts few brand names well known in the West, but does have many that are not seen outside of India. Is there potential for lifestyle products and their brands to grow as exports?
India has very few brand names in lifestyle products that have international stature. Indian products, unfortunately, still have a cheap, poorly made perception. I think we can change that. A range of affordably priced, very high quality, well-designed products will change this dynamic forever. The book has at least six projects that address this opportunity: Urja, Oishi, Gagori, Palanquin, Patami, Tilottama, and Deepti.
Most people have heard of Bollywood. Is there much more growth potential in India's entertainment industry?
Oh yes. It's a fantastic opportunity. You have no idea how marvelous India's rich heritage of stories is. Film, television shows, books based on this textural and narrative background made for international audiences is a completely untapped opportunity. Read Elixar, Kanishka Raja, and Framed Ivory to get a flavor.
What is the future of entrepreneurship in India?
I think we're going towards an entrepreneurs' India. If I have anything to do with it, the next decade will be an entrepreneurs' India. And I intend to have something to do with it :-)
How can Western business people partner with companies in India in new ventures that go far beyond simple outsourcing?
They need to find win-win opportunities. There are things that Indians are less good at. World class design is one of them. Marketing and product packaging is another. These are areas where there are great partnership opportunities to build world-class products at extremely affordable prices. India's strategic advantage is low cost skilled labor. It will make it possible for the country to develop a portfolio of products that rival Hermes and Ferragamo but at Target prices. How cool would that be?
What is the future of India's economy?
Vibrant, if the right policies are put in place. Policy is key, and it needs to favor the entrepreneurs, including public-private partnerships for large infrastructure projects.
What is next for Sramana Mitra?
One Million by One Million. I want to help a million entrepreneurs reach a million dollars in annual revenue, build $10 trillion in global GDP and create 10 million jobs by 2020. This will include entrepreneurs from India, as well as from everywhere else in the world, including America. And I hope the project will also create the platform for entrepreneurs to implement some of my Vision India 2020 ideas.
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My book review of Vision India 2020 by Sramana Mitra
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