Hospitality, tourism: The next big 'waves' to hit India
Hospitality and tourism will be 'the next big waves' that will hit India, says Sunil Bharti Mittal, Chairman and Group Managing Director of Bharti Enterprises.
In his convocation address at the Indian Institute of Management, Bangalore (IIMB) this evening, he said he personally believes that software, IT enabled Services (ITeS) and telecommunications is a 'done deal'.
"Hospitality and tourism will be the next big waves that will hit India in a very dramatic manner because there are going to be so many spin-off industries that will arise out of these verticals", Mittal said.
He also said that opportunity for India in the healthcare sector is also huge, because "we have the talent, knowledge and people to do the job".
Mittal noted that the state-run National Health Service (NHS) of the UK is sending patients to India for treatment. "I envisage NHS chartered planes coming to India now and then to get themselves treated in India".
According to him, India is emerging as a knowledge society and more importantly, the compelling demography of this The Western world is ageing, said Mittal.
"I believe they (the Western world) are in a denial mode. Give them 10 years, they will start struggling. Twenty years from now, I have no doubt that it will be the Indian hands and minds that will be at work serving the world".
He added: "Indian nurses, doctors and teachers..going and doing onshore jobs and Indian accountants and lawyers doing offshore jobs here out of India".
"I personally believe India's time has come".
On the manufacturing sector, he said he personally believed that "we lost this phase to China in a manner which we should not have lost".
" India had a huge lead. Suddenly, in the last 20 years, China chipped in this area and we lost", Mittal said, adding that it would be a tough task for New Delhi now to have a resurgence in this sector.
He, however, said India is doing very well in the area of auto components and light engineering.