'Problem is not talent': Startup founder explains why India lags in tech despite having world's best engineering minds
, founder of financial education platform Wisdom Hatch, has criticised India's slow adoption of technology-driven services. In a social media post, Shrivastava said, 'Tech supremacy leads to Economic supremacy. This is a basic fact. Right from Mesopotamia, Romans, Persians. And, in modern history: Spanish, UK, and now the US & China. Every empire has exhibited this trait.'
He acknowledged India's strength in engineering talent but said that technological implementation remained weak. 'One could argue that: India has best engineering talent in the world. But, we are far away from Tech supremacy. We still look at BTC, Cryptos, blockchain with derision. Forget that: we still prefer taxi mafias over apps,' he wrote.
Explore courses from Top Institutes in
Select a Course Category
Design Thinking
Project Management
Digital Marketing
healthcare
Healthcare
Cybersecurity
Data Science
Data Science
Product Management
Others
Artificial Intelligence
Finance
MBA
PGDM
Operations Management
CXO
Leadership
Degree
others
Public Policy
MCA
Management
Technology
Data Analytics
Skills you'll gain:
Duration:
22 Weeks
IIM Indore
CERT-IIMI DTAI Async India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
25 Weeks
IIM Kozhikode
CERT-IIMK PCP DTIM Async India
Starts on
undefined
Get Details
Goa keeps Ola, Uber out
Shrivastava's remarks come shortly after the Goa government formally barred large national ride-hailing platforms from operating in the state. In June, Chief Minister Pramod Sawant had clarified that the newly issued Goa Transport Aggregators Guidelines 2025 do not support entry of companies like Ola and Uber.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
— Akshat_World (@Akshat_World)
'Taxi operators need not be in any sort of confusion. The guidelines do not aim to open flood gates for national cab aggregators like Ola and Uber,' Sawant said.
Tourists face problems, allege monopoly
Tourists and some locals have criticised Goa's taxi setup, calling it a monopoly that blocks even local app-based services. Currently, only Goa Miles and Goa Taxi are permitted, but visitors claim they often face difficulties using them due to interference from taxi unions.
Live Events
In April, a tourist described the situation as a 'transport mafia'. 'Here, no private taxi apps like Ola and Uber are available; you have to rely on the unions who operate on their whim,' he wrote, adding that he was charged ₹1,600 for a 10 km journey.
Cultural issues and misaligned incentives
Shrivastava said that the problem is not lack of talent, but a deeper cultural and policy challenge. 'Forget even that: with the rise of alt science, astrology, gambling. The scientific temper has never been this low in our country. Problem is not talent. The problem is: misaligned incentives. Politicians do regressive things to win. But economy rewards progressive things & futuristic planning, which eventually leads to tech supremacy,' he said.
Crypto policy still evolving
India continues to take a cautious stance on new technologies like cryptocurrency. While not legal tender, digital assets can be held and traded under strict rules, including a 30% tax on gains. The Reserve Bank of India maintains that crypto poses risks to financial stability, and a formal crypto policy or bill is expected later in 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
36 minutes ago
- Time of India
Bike taxi ban case: ‘Without aggregators, how can commuters access motorbikes?'
The Karnataka High Court on Monday continued hearing appeals filed by bike taxi aggregators Ola, Uber and Rapido, along with others, challenging a single judge's April 2025 decision. The ruling stated that bike taxi services could not operate in the state unless the state government notified specific guidelines and rules under the Motor Vehicles Act. A Division Bench comprising Chief Justice Vibhu Bakhru and Justice CM Joshi addressed the matter, specifically questioning the state govt on whether it had intentionally decided to disallow bike taxis. The state's counsel argued that the Motor Vehicles Act does not permit bikes to be used as taxis. However, the Court dismissed this argument as 'thin', noting that several states allow bike taxis under the same statute applicable across India. During the hearing, Senior Advocate Uday Holla, representing Roppen Transportation Services (Rapido), contended that the single judge assumed, though not pleaded, that the state govt had a policy against bike taxis. He argued that if such a policy exists, it contravenes the statute, which permits motorbikes as taxis. Holla further highlighted that various states, including Rajasthan, Bihar, Uttar Pradesh, Uttarakhand, Madhya Pradesh, West Bengal, Haryana and Orissa, permit bike taxis. Addressing the convenience of bike taxis, Holla stated, 'Today, Bangalore Metro has just two lines (in Bangalore)...Bike taxis help commuters and are a matter of easy convenience. The single judge has also said that the State government must be alive to the changes coming in society. Now, how will commuters access motorbikes? Without aggregators, motorbikes will just be running all around. But if there is an aggregator, bikes can be made accessible. You see how convenient bike taxis are, you get one in a minute or two.' He also mentioned that earlier whiteboards were issued to bike taxis and suggested that establishing guidelines would create a regulatory framework. Emphasising the role of aggregators in ensuring commuter safety, Holla added, 'If aggregators are not there, who will check the background of the drivers? Aggregators add to the entire mechanism... They check the antecedents of the drivers.' He also claimed that bike taxis reduce traffic congestion, citing media reports indicating increased traffic following the disallowance of bike taxis in the state.
Time of India
3 hours ago
- Time of India
Pharma stocks in focus as Trump warns tariffs could hit 250%
Pharma stocks such as Sun Pharma , Cipla , Dr Reddy's Laboratories , Lupin , and others will be in focus on Wednesday after US President Donald Trump said tariffs on imported pharmaceuticals could rise to as high as 250%. The proposed tariffs would start at a lower rate but escalate over time, he said in a CNBC interview. 'We'll be putting an initially small tariff on pharmaceuticals, but in one year, one-and-a-half years, maximum, it's going to go to 150% and then 250%, because we want pharmaceuticals made in our country,' Trump said. He did not specify the initial tariff rate. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Trump also indicated plans to impose tariffs on semiconductors and chips in the 'next week or so,' though no details were provided. Also Read: PNB Housing Finance, RBL Bank among 10 small-cap stocks where FIIs increased stake in Q1 The US administration has been pushing to bring pharmaceutical manufacturing back to domestic soil. Trump has threatened steep tariffs and demanded major drug suppliers cut costs or face further penalties. Live Events The United States is currently conducting a national security review of the pharmaceutical sector, with potential sector-specific tariffs under consideration. However, no timeline has been given for the release of the probe's findings. Currently, tariffs on pharmaceuticals and semiconductors between the US and the EU are set at zero under a framework agreement. However, if the US imposes new tariffs after its import investigation, these will be capped at 15% under the existing agreement. Also Read: These 10 stocks delivered consistent dividend yields over the last 3 years
Time of India
3 hours ago
- Time of India
NHPC, NTPC Green Energy to issue over $500 million of debt in August: Report
Indian state-run companies NHPC and NTPC Green Energy will raise around 45 billion rupees (about $512.6 million) through the sale of short-term bonds this month, three sources aware of the matter said on Tuesday. Hydropower company NHPC is set to raise around 20 billion rupees through the sale of two-year or three-year bonds and should be the first of the two companies to come up with the issue, the sources said. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo NTPC Green Energy, a subsidiary of integrated power company NTPC, will make its debut in the bond market by raising 20 billion rupees to 25 billion rupees through five-year bonds, according to the sources. Bonds Corner Powered By RBI auctions help bring average call rate closer to repo The weighted average call rate remained below the repo rate. The Reserve Bank of India used variable rate repo and reverse-repo auctions. This was to align overnight rates with the policy gauge. In June, the WACR was closer to the lower end of the LAF corridor. The RBI prefers the overnight rate to align with the repo rate. Liquidity still a challenge, but corporate bond market progressing with policy push: Hajra India's top state green energy firm mulls first local bond sale Fibe's NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth Corporate bonds to gain as RBI easing cycle nears, says Suresh Darak of Bondbazaar Browse all Bonds News with "NTPC Green Energy is keen to go for shorter duration paper, but may also opt for 10-year notes if it gets sufficient interest from investors," one of the sources said. The sources requested anonymity as the talks are private. Live Events Both the companies did not reply to a Reuters email seeking comment. NHPC had raised around 19.45 billion rupees in early May through separately transferable redeemable principal part bonds with six-to-15-year maturities. "Short-end rates are lower and there is a decent spread between a three-to-five year and a 10-year paper, which is encouraging both the firms to go for such issuance," the second source said. Market participants expect the short-term bond yields to ease further as the Reserve Bank of India's monetary policy decision, due later in the day, is expected to boost demand for bonds.
