Placeholder canvas

Trump can be a blessing in disguise for IT players: Ambani

Date:

As US president Donald Trump keeps the world on tenterhooks with his protectionist ways that can have a debilitating impact on the Indian IT sector, RIL Chairman Mukesh Ambani today advised the industry to look at it as a blessing in disguise to focus on the home market.

“Trump can actually be a blessing in disguise. The domestic IT industry can focus on solving problems right here, which is a huge market,” Ambani told the three-day Nasscom leadership forum that opened here today.

ALSO READ: Baghdad suicide car bomb kills nine

Incidentally, the comments from Ambani who has spent over Rs 1.2 trillion in his new telecom venture Reliance Jio, come on the same Nasscom platform that delayed its customary annual growth projection to May as the industry awaits clarity on Trump’s plans to more than double the minimum salary for H1-B visa holders and massively curb visa issuance to techies.

The problem is that the USD 155-billion domestic IT industry nets over 65 per cent of its revenues from the US. Nasscom again lowered its revenue growth projection to the lower-end of its already lowered guidance of 8-10 percent for this year from 10-12 percent given last February.

ALSO READ: BSF Jawans all set to use Patanjali products

On the increasing calls coming in from the developed world for protectionism, Ambani said the domestic industry should work on strengthening domestic capabilities.

“We have a very big advantage in this new world of digitisation. Its very very important to be open, to have partnerships and not be closed. That is really a strength we should build on, and continue to be open and never think whatever the world changes.

ALSO READ: Love is in the air for Obama’s!

“The world might want to build walls around. I think it is very important for us not to be influenced by those developments, to make sure that we are always open, always connected,” he said.

He said Jio is open to partnerships now. He also credited the Aadhaar-based verification of the applicant’s details for this.

ALSO READ: Those displaying Pak, ISIS flags in JK to face harsh action: Army chief

Calling for looking at the larger picture of helping millions to resolve their problems with adoption of digital technologies, he said digitalisation will continue to face challenges in terms of privacy, security and data thefts, but “with our very big advantages in the new world of digitisation, I am sure we can find solutions to our major problems”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...

FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud

New Delhi: Sam Bankman-Fried, the renowned founder of cryptocurrency...