Eric Schmidt explains what India can learn from Google, Microsoft, Apple, and Amazon

• The former Google CEO sees tremendous potential that India has not achieved so far.
• Schmidt's advice to Indian tech companies is to dream and work towards an "unimaginable" future.
• He cited the examples of Google, Microsoft, Apple, and Amazon that chased ideas that were deemed unreal at the time but went on to be the biggest success stories in the last few decades.

India is known for extraordinary academic pursuits, at least in some sections of the society, and its entrepreneurial energy. Yet, it remains a service driven, developing economy with an annual per capita income of about $2,000.

Former Google Chief Executive Officer Eric Schmidt believes there is enough headroom for India to achieve its potential.

“The tools needed to create a great economy already exist in India. There is abundant talent and good instincts to manage money. The key to a success story for India will lie in defining its contribution towards innovation for the future, for example in the field of Artificial Intelligence,” he said.

The point Schmidt was trying to make was that Indian entrepreneurs and companies should focus on products and services for a future that may seem “unimaginable” at the time. But as the experience with the biggest tech firms of the day, Google, Microsoft, Apple and Amazon, even the most fantastic dreams have come true in the last 4 decades.

“I would love to see India-built applications used in America. I would love to see India-built data system built used around the world. That would be the biggest win,” according to Schmidt.

A video of Eric Schmidt's speech will uploaded soon.

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