The multibillion-dollar valuations of India’s new tech stars, Flipkart and Snapdeal, are no pricing bubble but a signal that the country’s technology boom has begun.
The next five years will see a flurry of technology innovation that will transform India as much as cellphones have over the past 15 years. This will be enabled by the availability of low-cost smartphones, the digital identity that India’s Aadhaar project has provided to hundreds of millions of people who lacked any documentation, and a host of exponential technology advances. A billion Indians will be joining the global economy during this decade.
