Tech business booming in India: Google MD

Here is the green signal for budding entrepreneurs from managing director of Google India, Rajan Anandan. He says, it is an incredibly positive time to start a technology company in the country. Anandan was speaking at the Indian Institute of Management, Ahmedabad’s (IIMA) annual business event, Confluence – 2011 on Friday.

To support his encouragement of new business ventures in the technology sector, Anandan presented data that showed the increasing number of internet users in the country. The data suggested that in 2010, there were around 2 billion internet users in the world and the figure is expected to go up to 3 billion by 2015.

“With 40% of the world’s population online there is an incredible opportunity for business. Not only major markets but even emerging markets like India are also a great place to do business, with over 100 million internet users here,” he said during his interaction with the students.

He said that market for mobile devices like smart phones and tablets is going to be twice that of desktop computers. Presenting data of social networking site users, he said that there are over 800 million social network users in the world. Even Google India is currently focusing on making its entire product line social over the next 4-5 years as this trend would see substantial growth, according to him.

He also said that e-commerce would become a $500 billion business globally by 2014. The e-commerce business in India which is currently pegged at $7 billion would grow to $40 billion by 2015, he said and citied this statistic as the reason for great business opportunities in the sector.

Answering a student’s query on Google India’s plan about its two online social networks – Orkut and Google+, Anandan said, “We will continue with Orkut as of now. We will also work out a transition for users from Orkut to Google+, but we are not sure when this would be possible.”

At the inaugural ceremony of Confluence – 2011, IIM Ahmedabad director Prof Samir Barua, dean, Prof Atanu Ghosh, executive vice-president of Tata group Satish Pradhan, and other professors shared the dais.

source : http://www.dnaindia.com/india/report_tech-business-booming-in-india-google-md-at-iim-event_1617673