Prashant Jain says AI likely will not disrupt Indian economy
At the News18 Rising Bharat Summit: West Edition in Mumbai, Prashant Jain, Founder & CIO, 3P Investment Managers, said AI probably won't shake up the Indian economy much.
He pointed out that IT services only employ about seven million people, a tiny slice of India's massive workforce.
Plus, because blue-collar and entry-level IT jobs pay similarly here, Jain thinks any AI disruption will be "localized pain to those families, to those communities, but I don't think it will impact the aggregate economy."
Ridham Desai: GCCs offer higher salaries
Morgan Stanley India's Ridham Desai added that Global Capability Centers (GCCs) are actually making a bigger splash than AI by offering much higher salaries than typical IT roles.
He highlighted how India leads globally in enterprise AI usage and credited the country's skilled workforce for its economic stability, even as tech keeps evolving.
So overall, experts feel India is well-prepared to handle whatever changes come with new technology.