Synopsis
CAST believes that technical debt presents a significant challenge for India as it strives to become a key player in the global tech industry, aiming for a $1 trillion digital economy by 2030. Addressing this debt is essential for sustainable growth and innovation.Key Takeaways
- Technical debt is India's primary tech challenge.
- India aims for a $1 trillion digital economy by 2030.
- Technical debt costs globally exceed $1.3 trillion annually.
- India has the world's largest developer workforce.
- CAST invests $200 million in R&D for software solutions.
New Delhi, Jan 27 (NationPress) The global leader in software intelligence, CAST, stated on Monday that it views technical debt as India's foremost technological hurdle in its journey to establish itself as a global tech leader.
During his recent visit to India, Vincent Delaroche, the founder and CEO of CAST, remarked, “India possesses a superior understanding of software compared to any other nation.”
As the nation strides towards its ambitious goal of becoming a $1 trillion digital economy by 2030, it is crucial to tackle software complexities, including the significant weight of technical debt, to sustain this growth trajectory.
Technical debt, which refers to the accumulation of outdated or inefficient coding practices, incurs a global expense exceeding $1.3 trillion annually, according to McKinsey, and India is certainly not immune.
As one of the rapidly expanding IT ecosystems worldwide, Indian businesses are confronted with the dual challenge of modernizing legacy systems while providing scalable and secure software solutions.
Delaroche elaborated, “Technical debt is not merely a bottleneck; it represents an invisible expense that erodes agility and innovation.” He emphasized that CAST offers Indian enterprises the necessary tools to pinpoint and rectify inefficiencies, aiding them in preserving a competitive advantage in the international tech landscape.
India's IT sector, which contributes over $245 billion yearly to the global economy (as per Nasscom data), is a crucial driver of innovation. Delaroche highlighted India’s essential role, referring to the nation’s 5.2 million developers, the largest in the world, as a significant asset for CAST’s global aspirations.
He stated, “The talent pool of Indian developers is unparalleled, and we see them as vital partners in realizing our vision.” He affirmed their dedication to empowering Indian enterprises and Global Capability Centers (GCCs) by mitigating technical debt, optimizing IT infrastructure, and enhancing developer productivity by as much as 25 percent, which significantly shortens software delivery timelines—a crucial component for achieving effective business results.
CAST, a privately held company predominantly owned by Bridgepoint, a prominent FTSE 250 investment firm, has allocated $200 million to research and development over the last 20 years to bolster its software intelligence solutions.
These solutions offer a comprehensive assessment of software systems, targeting essential elements like technical debt, cloud readiness, security vulnerabilities, and system efficiency.
With a global presence in nine countries and robust collaborations with industry leaders such as BCG, EY, Accenture, IBM Consulting, AWS, Microsoft Azure, and Google Cloud, CAST’s software is utilized by numerous companies, leading management consultancies, the top 10 system integrators, and all three major cloud providers.
