Dearth of Indian Technology Product Companies.....

While scanning through a Sramanamitra's blog, I found an interesting discussion about dearth of product manager from India,

I am re-posting the comments, I had posted in the Blog.

More than Product Managers, generally India does not have any major technology product in the world market and that may be the reason for dearth of Product Manager.

This might lead to a slightly different question, as why does India do not have Technology products? well, following could be some of the reasons......

i) Society : As Kids(till we finished our college) we grew up in a protective environment with all our needs taken care by our parents /elders. We rarely experimented as kids and we were never allowed to be failed. Failure is a disgrace in our society. If you ask final year student, Entreprenuership will be his/her last option. Hence, it depends on the family influence as well

ii) Attitude : Generally, we are also not agressive or assertive in nature to market products. We are more than happy, if we get a well paid Job. When campared to 1980's & 90's , in the last 6 to 8 years salary increase has been phenomenal in MNC, so people are quite happy to get into MNC job.

iii)Environment : There is lot of bureaucracy invoved in setting up a basic entreprise in India. For example, before the advent of MNC bank, opening a bank account with Public sector bank was a tedious process.

iv) Cost of capital : If you are a startup, if you are not able to get venture capital funding and if you are opting to fund you project through Debt financing then the rate of interest is killing, the interest rate are around 15 to 18% with Banks. Its diffucult to survive even for an established small scale company survive.

But, again its passion to achieve which drive an entreprenuer....Sometimes Opportunity cost equation is not in favourable of the indian Technology entrepenuer,hence the end up taking some kind of assignment in an MNC....