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Ola and Ola Electric Founder Bhavish Aggarwal urged Indians to celebrate homegrown entrepreneurs over Western founders, advocating a shift in perspective.

“In the tech community, we tend to celebrate Western founders. Why don’t we celebrate Dhirubhai Ambani and JRD Tata? They are far more worthy of praise,” he declared during his address at TechSparks 2024 in Bengaluru, emphasising the crucial role these Indian entrepreneurs have played in shaping the nation’s economic landscape.

Drawing a parallel between Ola’s growth and India’s rise, Aggarwal highlighted how homegrown enterprises contribute to the country’s progress. He passionately spoke of “Josh, Junoon aur Jasbah”—enthusiasm, passion, and zeal—capturing the spirit that drives Indian entrepreneurs.

However, Aggarwal also pointed out the lack of indigenous products in critical sectors like artificial intelligence, search engines, and semiconductors.

“India is the largest producer of digital data in the world. We create 20% of the world’s digital data, but we don’t own this data. India is also the chip hub of the world, but there is no Indian chip yet,” he observed, stressing the need for India to harness its resources and capabilities to develop its own technologies

Looking ahead, Aggarwal outlined a vision for a united India, saying, “When I look at the future, we have the vision of a shared Indian dream of a developed country by 2047.” He asserted that leading the world in technology, particularly in AI, is essential for achieving this goal.

He also contrasted the American and Indian paradigms of technology, suggesting that while the former is largely capitalistic, the Indian approach focuses more on societal benefits. “India has an opportunity to become a global leader in innovation,” he stated, advocating for open protocols and technologies that can benefit the broader society.

He also reminded the audience of India’s significance on the global stage saying, “India is a country of consequence. We form 20% of the world, and we matter to the world.”

(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)