There are many factors to take and to risk if a country wants to take the lead. In the context of India and China, their technological growth might be triggered by various and different factors to the ones that the long-developed countries have. For developing countries like Indonesia, the chance to get in the line is still open. Here are the factors behind the making of technological giants of India and China that may be learned by other countries.
According to comScrore report, India, with its nearly 74-million users, has replaced Japan in the Top 3 of world’s largest Internet user along with China and U. S. A.. China itself has the biggest virtual presence on the Internet in the world by outnumbering India by 5:1 ratio
With that said, the number and percentage of Internet user can be one of the factors of the healthy growth of technological products in a country that can sustain the other aspects there.
Both countries have promising markets that can multiply their business in the future. National Association of Software and Services Companies (Nasscom) says that the analytical industry in India is expected to go from US$ 2 billion to US$ 16 billion by 2025. Also, the government has aimed to invest 2% of total country’s GDP on taking their research and development to the more advanced level. These will possibly make India unstoppable.
While in China, market is triggered by the rise of modern Chinese entrepreneurs who have been highly influenced by technology such as social media and e-finance. To maintain its global domination, China has Research and Development (R&D) spending that reaches nearly 1.18 trillion yuan or equal to $ 193 billion in 2013. This is the strongest capital of China to pass European Union and the United States to be the top country with the biggest amount of investment in R&D. Furthermore, a great number of patents, young CEOs, engineers, or science graduate are the plus points.
Government is an institution in a country that has major power in decision making. In other words, the development of technology will also rely on the governmental commitment.
India has signed a bilateral cooperation with Israel in science and technology that provides US$ 1 million from each of them for more advance research and development in the area of big data analytics in healthcare and cybersecurity. Besides, India has been a part of Associate Member State of the European Organisation for Nuclear Research (CERN), which will includes more participation Indian software engineers, physicist, and scientists in global experiments.
The Chinese way to support the market in technology is by pushing the reformation of its regulation in enterprise ownership. Going from state-owned, now the government has endorsed mixed ownership that can lead to the extended innovation not only in private but also public sector.
Regardless of the intention to be the next global domination in technology, India and China have taken so many giants step towards the future of science and technology that the other countries need to exemplify.