As per the CEO of Tech Mahindra tech regulation is one of the most delicate balancing act which can’t be implemented too early or too late.
On Tuesday, C.P. Gurnai said to the reporter that his personal belief is “the regulator should chase innovation.”
He added, “The need for tech governance only comes in when you have a problem or when you anticipate a problem. You do it too soon you stifle it (innovation). You’re doing it too late, you allow the misuse to happen.”
He commented as the U.S. tech giants like Facebook and Google faced increased scrutiny from regulators in the United States as well as in Europe along with the rest of the world.
Currently, the EU is leading the fight against Big Tech and pushing for the new rules which will concentrate on the increasing competition and will soon make the online platforms responsible for the content that they are hosting.
However, tech regulation is required at every stage globally, Gurnani argued that “ethical governance” is a better way forward. He explained it by means of educating people on “what is right and what is wrong.”
He also mentioned, “I am convinced that governance too soon means bad for innovations, bad for (research and development) and bad for that early initiative guy who creates.”
In the meantime, as global competition is heating up with the tech sector, India is well-positioned for bridging the gap with China, as per Gurnani.
He exclaimed, “I think China has unique advantages, the way they invested in that infrastructure and the way they build some of their technology. I think India has no choice in the current (stage). We will have to build our semi-conductor capacity.”
He also added that the software development, India is “leaps and bounds ahead of China or most other countries.” He mentioned, “We have become a necessity for West or Each, when it comes to IT and services.”