Capgemini confident about India's economic growth story despite challenges

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Everybody should recognise that India needs more time to get things figured out, says Capgemini Vice President Global Smart Energy Services William Nicholson. (Reuters) Everybody should recognise that India needs more time to get things figured out, says Capgemini Vice President Global Smart Energy Services William Nicholson. (Reuters)
SummaryA top Capgemini executive has said India's size and its population add up to the problem.

IT services major Capgemini is confident about India's growth story, despite challenges like infrastructure and development being faced by the world's second most populous country.

The Paris-based firm, which employs over 1.2 lakh people in 40 countries, is a major provider of consulting, technology and outsourcing services with revenue of more than 10 billion euro (about USD 13 billion) last year.

Related: PMEAC's C Rangarajan lowers GDP growth estimate to 5.3 per cent for FY14

"There is absolutely no way you stay-in and not move. Everybody will move... the government has a sound road map and policy in place, so first those things get worked out and some of those pilots will potentially help problems and hiccups.

"Some will work. Its just a matter of getting the ball moving in enough prove points," Capgemini, Corporate Vice President Utilities Global Sector Leader, Perry Stoneman told

PTI.

Related: Keeping fiscal deficit target a challenge, says PMEAC

Explaining the nature of problems in India, he said the country's size and its population also add up to the problem.

"I think the problem here is bigger because of the size and population of the country. Its bigger because the infrastructure isn't as modern. So the challenge India has is bigger.

"The challenges of the regulator, the utility and the policy makers are bigger. So what everybody should probably recognise is that India needs more time to get those things figured out," he added.

Stoneman said that regulatory issues take time to standardise.

Citing the example of France, he added the country has started to roll out (smart meters), but the same metres if one tried to install in 2006-07 would not have been possible.

"So my advice to business people that are getting frustrated with being here is they may be not trying to shape the market, advice the market, structure pilots. They are trying to get a big deal, that's not gonna happen in the short term," he added.

Stoneman, however, said there is no clarity who is going to drive the change in India, where it will be the policy makers or the regulator or the people.

"The stumbling point that I'm hearing is that everywhere in the world there's been either the politicians, the regulator, the utility or the consumer that has driven the programme and in India I don't see clarity yet on who is going to drive the programme or initiate it on a country-wide scale," he

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