Asia has been often referred to as the ‘manufacturing hub' of the world with people saying that China is the world's factory. Over the last few years, Asia has also emerged as the ‘go-to destination' for banks and financial service companies given the resilience that the region showed in the wake of the recent financial crisis. Of late, Asia's technology industry has also become a force to reckon with and a growing number of Asian companies are poised to emerge as global technology leaders, with their own cutting-edge products and services combined with a growing reputation for innovation.
Closer home, Indian companies like Infosys, Wipro, Mindtree, and TCS have become the leaders in the IT services industry. India has almost become synonymous with the word ‘software'. Taiwan has become the hotbed for hardware innovation and is aggressively challenging the western norms of design, scale and innovation. The rise of several new Asian innovators, such as Asus, Lenovo, and Samsung amongst others comes as markets across Asia see explosive demand for computing of all kinds, with far-reaching implications for the technology industry and the region. To understand why these changes are happening, and what they mean, some widely held misconceptions about Asia need to be dispelled.
The first myth is the misperception of Asia as solely a manufacturing location and not a hub of innovation, according to a report in The Hindu Business Line
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