Good article with lots of insights about entrepreneurship in India, more than technology. Really great things are happening there, and in other emerging markets like Brazil, that will shape the world in the near future.
The Indian technology industry got its start running call centers and doing low-level IT work for western firms. Then, in the 2000s, it started taking on higher-level IT tasks, offering management consulting services, and performing sophisticated R&D. Now there is another transition happening, one far more significant: a transition to development of innovative technology products. Instead of providing IT services as the big outsourcing companies do, a new breed of startups is developing high-value products based on intellectual property. The Indian industry group NASSCOM estimates that in 2008, the country’s software product revenues totaled $1.64 billion. It forecasts that this will grow to $11 billion per year by 2015.