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Jan 20, 2023 11:45 PM | Updated Jan 21, 2023 12:12 AM IST – Visakhapatnam
Cyient founder BVR Mohan Reddy (far right) interacts with MeitY secretary Alkesh Kumar Sharma (middle) and Rajya Sabha member GVL Narasimha Rao at the two-day IT summit in Visakhapatnam I’m watching the opening ceremony of “InfinITy”. On Friday.. | Photo Credit: V. RAJU
Cyient BVR founder Mohan Reddy says the ease of doing business (EODB) has improved year-on-year over the past six years, and incentives and opportunities abound for entrepreneurs.
Reddy, who gave a keynote address on “The Importance of Entrepreneurship for the Nation” at the IT Summit “InfinITy Vizag 2023” hosted by the Information Technology Association of AP (ITAAP) this Friday, went back in time to 1992 to talk about liberalization. With the introduction of , privatization and globalization policies, India faced exactly the same situation that Sri Lanka and Pakistan face today. Gold reserves were shipped from India to pay foreign exchange debts.
he said: The country’s foreign exchange reserves are $500 billion. This is the contribution of entrepreneurs to nation-building. I started the company with his Rs.200,000 investment. Currently the company employs his 18,000 employees and our network is his Rs 10,000. This is my contribution to my country. ”
Entrepreneurs should not only create wealth, but also share it with others and contribute to nation building. The company donates 2% of her profits to her CSR activities for the development of the surrounding communities. He encouraged entrepreneurs to give back to society.
Earlier, in the first session, Reddy said technology is permeating all industries and the pace of technology absorption is increasing rapidly. Over the past few years, consumer adoption of technology has been at an unprecedented rate. He gave the example of his WhatsApp, where in the last four years he has acquired 600 million users.
He stressed the importance of strengthening the education system and making students “workable”. He felt that “deep technology” should be taught in the classroom.
Ms. Vidya Sagar J, IT Advisor to the AP Government, delivered a special speech on the Government’s push for the use of IT and digital technologies. AP maintains its position as the #1 state for “ease of doing business.”
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