Call for wider use of ICT

Calling for increased use of information and communication technology (ICT) in all spheres of life, Ravi Venkatesan, chairman of Microsoft Corporation India Private Limited said, "India is a great exporter of IT talent, but when it comes to investment in IT for domestic consumption, we still have a long way to go."

"Only around 3.5 per cent of the total capital expenditure in India goes into IT," Venkatesan said at the Microsoft One India Day programme on 'Innovation in India, Innovating for India and Innovating with India'.

"In the public sector, we have seen that ICT can bring in convenience and reduce fraud and corruption. Besides, there is a profound opportunity to leverage technology in imparting education. This, in turn, can help in the economic development of the country as giving information is critical to poverty alleviation," he added.

However, the main challenges, according to Venkatesan, were affordability, language and piracy. "We, as a company, I believe, are well-positioned to make a difference on these issues," he added.

Meanwhile, Neelam Dhawan, managing director, Microsoft Corporation India Private Limited, said that IT would soon become critical for taking business decisions. "We see great potential in the banking industry as there is a lot of automation taking place in this sector," she added.