Poverty alleviation critically depends on our mastering technology, says Zoho founder Sridhar Vembu

In his pep talk to the passing out graduates, Sridhar Vembu, Chief Guest at the 11th Convocation of B S Abdur Rahman Crescent Institute of Science and Technology, said, “Realise your potential and also crucially to alleviate poverty. I will come to the poverty angle. If we create a job that pays really well, say Rs 20 lakhs Rs 30 lakhs per year in a place like Tenkasi, that income goes around the community. It is what they called multiplier effect in economics. Those who have studied economics will understand this multiplier effect. That one rupee of income in this type of export job becomes Rs 10 to Rs 20 of income in the local economy. So these export jobs have high in multiplier. When our own very talented citizens leave the country, they will benefit personally, but among the twenty people who might have gotten jobs or those who will not have jobs or will not have good jobs or will not have good pay. So poverty alleviation critically depends on our mastering technology.”

“In fact it is that industrial heart-land along with IT sector that have together made the Tamil Nadu now the number one state in terms of investments and industry a lot of that. So we have reached that level and yet we are only at that middle income economy. My friend Ahmadi talks about how we become a five trillion economy that is something that is four trillion I made it five trillion for you. Because that level, we definitely will be considered as a developed country. Because that is the economy the size of a Germany. For example and at that level we would be a fully developed region, how do we get to this? And this is the topic I am obsessed about and if you look the company like Zoho, we are competing with the best companies in the world, we are competing with Microsoft, we are competing with Sales Force and we are competing with parts of Google. All of this we are doing it right from here. Our most of the software is written here not 15 minutes from your campus here and then in Tenkasi and now any other parts but predominantly it’s here and then Tenkasi still and with this talent pool developed here, including graduates from this institution and one of our man behind our Tenkasi Office here is Hakim,” Vembu added.

“I will tell you a good news,  we have been able to master some very very critical technologies in 25 years. For example, I will mention a product built in Tenkasi itself – Zoho Desk, is a product that now is globally sold about 90 percent of the revenues coming from abroad – US, Europe, everywhere we have customers, really a big name customers and it is almost 80 per cent of the code is written in Tenkasi in 10 K and remaining in Chennai that’s the vision of the team now majority bulk the team is in Tenkasi. This products competes our biggest competition is in San Francisco and we are able to hold our own in competition. We are competing with the company in San Francisco with our team in Tenkasi. We are able to do this and we are able to do for example like Zoho mail, which competes with Gmail and Microsoft exchange. Our most of the team is right here in Guduvancherry and we are able to compete globally. Today we are in the top three in email market globally – Microsoft exchange, G suit google and Zoho, that is the ranking now. And we are able to compete from right here in Guduvancherry with the global market. Again our market is now most of the revenue about 90 per cent plus is coming from abroad. And this has to be repeated across again and again and again,” Vembu stressed.

A total of 41 students were awarded Gold Medals for securing top ranks. Of this, 26 students were from UG and 15 from PG. Based on COVID-19 restrictions 93 students received their degrees in person and 2,289 students attended the convocation online. The degrees were handed over to the students by Sridhar Vembu, CEO and Co-founder, Zoho Corp.

Also present on the occasion were dignitaries, including BSACIST Chancellor BSA Arif Buhary Rahman, Pro-Chancellor Abdul Qadir A Rahman Buhari, Vice-Chancellor Dr A Peer Mohamed, Registrar Dr A Azad & Members of the Board of management.