Amid ongoing criticism of India's IT sector for its supposed lack of innovation, popular investor and financial educator Akshat Shrivastava has come out swinging in its defence. In a recent post on X (formerly Twitter), Shrivastava slammed what he described as “cribbing” around the Indian IT industry, pointing out that innovation cannot flourish in a vacuum.
“Everyone today is cribbing about Indian IT's lack of innovation. And, how they are glorified labour contractors. But innovation is not built in isolation,” he wrote. His comment sparked a wave of debate online, tapping into a long-standing question: is Indian IT merely surviving, or does it carry the DNA for future innovation?
“No 24x7 Power, But 24x7 Code”
Shrivastava’s post was both a critique of India’s infrastructural and regulatory hurdles and a tribute to the grit of its IT professionals. “If someone today starts a crypto or an AI firm, there is no guarantee of a 24x7 power supply,” he said. “Some state goons will raise their heads, gang up on you & make you close your office, due to your inability to speak the local language.”
Despite these challenges, he argues, the IT industry not only survived but thrived—building a robust export economy and fuelling the rise of India’s middle class. “It is a story of resilience, which ended up powering many cities and houses in India,” he said.
His central message was simple yet profound: “Innovation needs an ecosystem.”
“Survival Isn’t Innovation”
Not everyone agreed with Shrivastava’s perspective, though. One user noted, “Yes, Indian IT showed resilience, but let’s not mistake survival for innovation. Are we even trying to build an ecosystem that fosters deep tech innovation, especially in AI?”
Another echoed similar concerns: “IT thrived despite the ecosystem, not because of it. But resilience isn’t a strategy for the next wave.”
However, others saw value in Shrivastava’s viewpoint. “It wasn’t glamorous, but Indian IT laid the foundation on which future innovation can stand!” wrote one user.
Shrivastava’s perspective comes with the credibility of experience. An alumnus of INSEAD and a former consultant with BCG and Dalberg, he now runs his own hedge fund and investment platform.
In concluding his post, Shrivastava acknowledged that innovation may eventually come—but warned that the “wait” would be painful, not just for the IT sector but for India’s economy at large. “Maybe with time, India might innovate on something else,” he said.
“Everyone today is cribbing about Indian IT's lack of innovation. And, how they are glorified labour contractors. But innovation is not built in isolation,” he wrote. His comment sparked a wave of debate online, tapping into a long-standing question: is Indian IT merely surviving, or does it carry the DNA for future innovation?
“No 24x7 Power, But 24x7 Code”
Shrivastava’s post was both a critique of India’s infrastructural and regulatory hurdles and a tribute to the grit of its IT professionals. “If someone today starts a crypto or an AI firm, there is no guarantee of a 24x7 power supply,” he said. “Some state goons will raise their heads, gang up on you & make you close your office, due to your inability to speak the local language.”
Despite these challenges, he argues, the IT industry not only survived but thrived—building a robust export economy and fuelling the rise of India’s middle class. “It is a story of resilience, which ended up powering many cities and houses in India,” he said.
His central message was simple yet profound: “Innovation needs an ecosystem.”
Everyone today is cribbing about Indian IT's lack of innovation. And, how they are glorified labour contractors.
— Akshat Shrivastava (@Akshat_World) July 28, 2025
But, innovation is not built in isolation.
You need an ecosystem to innovate.
- If someone today starts a Crypto or an AI firm,
there is no guarantee of a 24*7…
“Survival Isn’t Innovation”
Not everyone agreed with Shrivastava’s perspective, though. One user noted, “Yes, Indian IT showed resilience, but let’s not mistake survival for innovation. Are we even trying to build an ecosystem that fosters deep tech innovation, especially in AI?”
Another echoed similar concerns: “IT thrived despite the ecosystem, not because of it. But resilience isn’t a strategy for the next wave.”
However, others saw value in Shrivastava’s viewpoint. “It wasn’t glamorous, but Indian IT laid the foundation on which future innovation can stand!” wrote one user.
Shrivastava’s perspective comes with the credibility of experience. An alumnus of INSEAD and a former consultant with BCG and Dalberg, he now runs his own hedge fund and investment platform.
In concluding his post, Shrivastava acknowledged that innovation may eventually come—but warned that the “wait” would be painful, not just for the IT sector but for India’s economy at large. “Maybe with time, India might innovate on something else,” he said.
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