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Rajat Gupta: Indian IT Industry should be in Panic

May 22
10:17 2017

New York: The former McKinsey head, Rajat Gupta, recently said that the Indian IT industry “rightly” should be in “panic” mode as it has not kept pace with the fast-changing innovation. According to him, the industries today have to constantly move with innovation as the basic IT work gets automated and advance automations, such as artificial intelligence, virtual reality and cloud computing overtake the technological world.

The Indian-born, former director of Goldman Sachs stated “Code writing and testing is the most inefficient industry that existed,” at a panel discussion by the New York Tri-State chapter of Pratham USA.

Gupta was sentenced to 2 years in jail after found guilty of insider trading.

Now, a free man, he also raised the issue of unemployment in India and said “India needs to create 20 million jobs a year and it is no way near that. Most of our skilling efforts in India are failures because certain elements are not built into it. It becomes a government scheme. Are (the youth) really skilled when they come out. No,” –PTI

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