Daron Acemoglu’s three-point roadmap for India’s tech leadership
Subscribe to enjoy similar stories. Daron Acemoglu, Simon Johnson and James Robinson (AJR) were recently awarded the Nobel Prize in Economics for their work on the role institutions play in driving a nation’s prosperity. In a podcast interview I hosted with Acemoglu (full episode available at https://shorturl.at/R8s0u), I asked Acemoglu to apply his ‘institutions’ framework and current thinking to technology in the Indian context.
During our discussion, Acemoglu suggested a multi-faceted approach for India to become a leader in tech development. For this, he said, the country should focus on: (a) moving beyond being a talent nation to driving greater product innovation, (b) strategically navigating the global tech landscape through alliances, and (c) advocating a pro-human direction for technology domestically. Moving Beyond a ‘Talent Nation’: Acemoglu acknowledged India's potential in technology, especially given its large, well-educated and tech-savvy population.
These factors also mean that India holds significant potential in fields related to emerging technologies such as artificial intelligence (AI). However, he warned against remaining solely a “talent nation" providing offshoring services, as India faces “tremendous danger" if it remains reliant on jobs that are vulnerable to automation by AI. Therefore, India must deliver on its promise to become a creator of technology.
India must aim, he argued, to establish product companies with robust business models and the capacity to develop global leadership in high-value-added sectors. This entails investing in research and development (R&D), nurturing a vibrant startup ecosystem, and creating an environment conducive to innovation. Acemoglu acknowledged that this
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