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Indian entrepreneurs need to build products & services keeping global market in mind: Amitabh Kant

Updated: Apr 25, 2016 10:26:41am

Gurugram, Apr 25 (KNN) Since it is a globalized world, Indian entrepreneurs need to build products and services keeping the global market in mind, said Amitabh Kant, chief executive officer of NITI Aayog on Saturday.

“We are in a globalized world. Whatever you do you are an integral part of the global supply chain. Whatever you produce think big in terms of the world,” said Kant while addressing at the Startup Expo event in Gurugram organized by the German carrier Lufthansa and the Indus Entrepreneurs (TiE).

Kant further said, "Government should not interfere in businesses. Just create a better model and beat them (foreign firms) in India. We don’t want to do what the Chinese did, the Chinese closed the market for everyone. We are a developing economy, the more we open up, we will be more and more innovative."

Kant said that by 2023, the brick and mortal business in India will be dead and everything will be done online.

“In the last five months we have given 23 payment bank licences. Many of these are telecom companies. What will happen is that the brick and mortal will go dead, it will all be mobile telephony transactions. Today we have 350 million people using internet. By 2023 end we will have a billion people using smartphones and on Internet. There will be billion Indians with access to the Internet, biometric and using smartphones. We will be able to radically alter the world in terms of technology,” he said.

By 2023, India will be a $300 billion e-commerce market, said Kant. (With Inputs from media report)


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