National Technology Day 2024 marks a significant milestone in technological advancements across sectors

Ahead of National Technology Day on May 11^th, 2024, we would like to share the views of

·         Anirban Roy, VP, Engineering, Financial Software and Systems (FSS)

·         Arun Nayyar, MD & CEO, NeoGrowth

·         Arpan Sahoo, Chief Operating Officer

·         KaleidEO; Rashmit Singh Sukhmani, CTO and Co-Founder, SatSure

·         Dr. Vishnu Vardhan, Co-founder & CEO, SML India

·         Dilip Modi, Founder, Spice Money

·         Anuj Garg, VP-Blockchain, ZebPay

·         Rohit Jetly, Head of Global Platform Solutions – Platform Delivery and Country Head – India, Fidelity International

Anirban Roy, VP – Engineering, Financial Software and Systems (FSS) 

“National Technology Day is a momentous occasion that celebrates the extraordinary journey of innovations. These innovations have paved the way for a more connected and empowered future, a future where everyone is united under a single platform. As an engineer, I’m thrilled about platforms! They’re like building blocks that foster the growth of ideas, transcend borders for collaboration, and enable solutions to scale with unprecedented speed.  With India’s mobile wallet market projected to reach a value of over ₹531.8 trillion by 2028, we need platforms that can build the necessary infrastructure to support this exponential growth.

At FSS, we see platforms not just as technological marvels but as engines of driving financial inclusion and growth. They’re the core for creating new possibilities, bringing change and innovation at the grassroots level, and altering our very own habits. Platforms can change entire industries and how we live. As we move toward a technology-driven future, we should understand that building technology isn’t enough; it has to be built with intention and foresight, focusing on solutions that empower people and drive economic progress. The FSS Blaze is one example of that, a platform built to leverage technological interventions and bring financial services to the unbanked and underbanked, fostering a more inclusive and prosperous future.” 

Arun Nayyar, MD & CEO, NeoGrowth

“At NeoGrowth, we believe in harnessing technology as a strategic tool to drive business goals and impact. Our commitment lies in achieving sustainable and profitable growth by seamlessly integrating technology into every facet of our operations. From enhancing risk management and operational efficiency to delivering unparalleled customer experiences, we leverage digital innovation at every step. We have a well-integrated digital infrastructure; encompassing the India Stack, Aadhaar authentication, GST,  digital payment ecosystem and Account Aggregator Framework we ensure a seamless and simplified process for our customers. Our operational capabilities driven by tech and data enables us to process nearly 90% of loans within a mere 3 days, demonstrating our unwavering commitment to speed and efficiency. This synergy between technology and business objectives is pivotal in fostering an inclusive credit ecosystem tailored to the unique needs of India’s MSMEs” 

Arpan Sahoo, Chief Operating Officer, KaleidEO 

“India is at the forefront of the space technology revolution, with nearly 200 active space tech startups showcasing our commitment to innovation and exploration. These advancements hold promise in addressing humanity’s most pressing challenges. Today, Earth Observation (EO) solutions exemplify how space technology aids us in tackling diverse challenges on the ground, spanning defense, agriculture, financial inclusion, and sustainability, among others. At KaleidEO, we are laser focused on creating value in the upstream through our satellite imaging technologies that help democratise the data access from space without sacrificing quality and value. We believe the optimal way is to address the data needs downstream and translate them into hardware innovation. As we celebrate National Technology Day, we reaffirm our dedication to delivering futuristic tech solutions that empower decision-makers, stakeholders and end-users to address the challenges of ever-changing world.“ 

 Rashmit Singh Sukhmani, CTO and Co-Founder, SatSure 

“India is currently experiencing a significant tech revolution, with notable advancements in Remote Sensing, Earth Observation, and Deep Tech driving the nation forward.  I believe that geospatial technologies will be playing a huge role in empowering the global economy because of their potential to make a substantial impact across sectors.The opportunity is huge and we are just getting started.  At SatSure, we are harnessing the power of satellite remote sensing, artificial intelligence, and machine learning to deliver valuable insights across various industries. With a diverse portfolio, our solutions cater to various sectors including agriculture, agricultural lending, utilities, climate action, and aviation. As we celebrate the National Technology Day, we remain steadfast in our commitment to leveraging satellite technology to address real-world challenges on the ground.”

 Dr. Vishnu Vardhan, Co-founder & CEO, SML India 

“As we commemorate ‘National Technology Day’ to honour the remarkable achievements of India’s tech community, it makes us proud to see the infinite opportunities that lie ahead of us. India has been at the forefront when it comes to integrating and adopting new age technology. Whether it is fintech or ecommerce, it is fascinating to see India’s growth trajectory, from UPI going global and UPI transactions witnessing an exponential growth of 147% in the last 5 years, to the emergence of game changing platforms like ONDC completing more than 7.1 million cumulative orders in the last year. These technologies are bringing the next level of innovation for businesses and customers alike. And this is just the beginning. 
 

This year, generative artificial intelligence has witnessed massive growth with the potential to add a cumulative US$1.2-1.5 trillion to India’s GDP over the next seven years, according to a report by Ernst & Young India. The impact of this technology goes much beyond just accessibility and is bound to become a catalyst for economic transformation, with a substantial number of public and private organisations embracing GenAI solutions. Given the country’s rich linguistic tapestry, where 80% of the population speaks non-English languages, it is imperative to design a platform that caters to this diverse pool of users. This will help in democratising AI access for the masses by overcoming language barriers and empowering every individual, regardless of their socioeconomic background.  

Gen AI presents immense opportunities for diverse sectors ranging from financial services to healthcare, e-commerce, food delivery apps, and education by helping them streamline internal processes and drive exponential growth for organisations. As we stand at the cusp of this technological revolution, it is fundamental to not just celebrate our achievements but also collaboratively commit to the endless possibilities of tomorrow.”

*SML India has recently announced the launch of ‘Hanooman’, India’s largest multilingual GenAI platform.

 Dilip Modi, Founder, Spice Money 

“National Technology Day serves as a reminder of how technology has transformed various sectors, especially in finance. The financial services industry has undergone a significant transformation, with technology playing a pivotal role in making services more accessible and efficient. 

The J.A.M trinity, comprising of Jan Dhan, Aadhaar, and Mobile, epitomizes innovation. These pillars have created an ecosystem that fosters fintech advancement, enabling Indian companies to develop a wide range of products and services, including digital payments and lending, among others. Furthermore, the Digital Public Infrastructure has been crucial in driving innovation and growth in the fintech sector, significantly contributing to financial inclusion and economic progress across the nation. AePS and UPI are shining examples of how innovation has revolutionized financial transactions. AePS, often referred to as the UPI of rural India, recorded 470.12 million approved transactions in April 2024, while UPI witnessed 13.30 billion transactions during the same period. These figures highlight how technology has made financial transactions more accessible and convenient, improving lives across the country.

At Spice Money, we’re building on the incredible foundation of India’s Digital Public Infrastructure (DPI). By combining the power of technology with our extensive network of 1.3 million nanopreneurs, we provide financial services in even the most remote villages, going beyond traditional banking to foster financial inclusion and promote entrepreneurship in Emerging India. We firmly believe that technology is the key to unlocking financial inclusion.”

 Anuj Garg, VP-Blockchain, ZebPay 

“As we celebrate National Technology Day, it is crucial to give credit to the key factors that have exponentially contributed to India’s instrumental journey in the technology landscape in the last few years. Initiatives like Startup India and Digital India, along with public-private partnerships, have fueled a technology revolution. A recent survey by Nasscom-Zinnov suggested that over 950 tech startups were founded in 2023 alone. This showcases the potential of India’s promising tech industry.

At the forefront of this transformation stands blockchain technology, which has massive potential to revolutionize the way we conduct business. According to a report by Hashed Emergent, India has one of the largest Web3 ecosystems in the world, with over 1,000 startups and 12% of all Web3 developers worldwide. With a booming startup ecosystem and established players actively integrating the technology, we’re witnessing a transformation across industries.

Companies operating across diverse sectors like finance, healthcare, and many other fields are actively integrating blockchain to streamline processes and enhance security. The technology’s ability to create a secure, transparent, and widely accessible record-keeping system can help address major roadblocks faced by business leaders. For instance, in healthcare, decentralized storage gives patients the power to control their medical records securely. Blockchain technology also enables secure microtransactions and financial services, which can benefit people who don’t have access to traditional banking. Unlocking this potential requires a collaborative effort with the government, industry leaders, and academic institutions. By fostering a constructive dialogue, we can create a regulatory environment that encourages responsible innovation and empowers the ethical use of digital assets, thereby paving the way for India’s thriving tech ecosystem.

 Rohit Jetly, Head of Global Platform Solutions – Platform Delivery; and Country Head – India, Fidelity International 

“The convergence of Gen AI, data virtualization and other cutting-edge technologies is revolutionizing how we think about traditional sectors and ways of working. These herald a transformative era, reshaping industries and driving unprecedented innovation and efficiency, which is exactly what we need in the Indian GCC space! It is not just about adopting them, but about redefining possibilities, fostering digital trust, and paving the way for sustainable economic development in a rapidly evolving global landscape with diverse and evolving customer needs. GCCs are also leading the way and broadening the canvas of cutting-edge tech for our people to have the opportunity to upskill themselves and add value to the world from India.”