The Indian IT industry “rightly” should be in “panic” mode as it has not kept pace with the fast-changing innovation, India-born former McKinsey head Rajat Gupta has said.
He said industries today “have to constantly move with innovation” as basic IT work gets automated and advanced innovations such as artificial intelligence, virtual reality and cloud computing overtake the technological world.
“Code writing and testing is the most inefficient industry that existed,” he said at a panel discussion here yesterday organised by the New York Tri-State chapter of Pratham USA, one of the largest non-governmental organisations.
Experts are warning of prolonged layoffs in the Indian IT sector as digitisation and automation become the new normal and a wave of protectionism in major markets like the US, Singapore, Australia and New Zealand closes the door for IT engineers from India.
Gupta said there is urgent need for “revolution in education” where imparting knowledge has to move from being in lecture mode to being more interactive, digital and participatory.
“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,” he said.