Infosys Co-Founder Kris Gopalakrishnan has said innovation and small and medium enterprises (SMEs) go hand in hand when it comes to economic growth. Innovation is important for every state and also good for the economy as well as SMEs, he said.
Gopalakrishnan was speaking in an exclusive interaction with ET Now on the sidelines of Confederation of Indian Industry (CII)’s 13th India Innovation Summit.
The technology honcho said the summit showcases innovation in every fabric of life and the reason being innovation is now equally important as GDP. “How an economy is competitive is determined by its capability to innovate, its capacity to innovate, its ability to support innovation, do they have innovation ecosystems, etc,” he said.
“Innovation is a way for us to look at how technology can continuously improve the quality of life. Technology can create new businesses. So that is important even within a state, even within a country these are important things,” said the Co-Founder, who is also the President of CII.
He urged it is important to focus on innovation irrespective of what else is happening to make sure that new businesses are created, jobs are generated, economy is growing, and the quality of life is improving.
Speaking on GST, Gopalakrishnan said, “It is good for the economy. It is good for small and medium enterprises. So we have to come together and make sure that this transition is smooth.”
Gopalakrishnan is bullish GST will encourage ease of doing business, accelerate business velocity, and help small and medium enterprises comply with tax laws.