India among Oracle NetSuite's highest-priority markets, says Asia head Amit Suxena

India is one of Oracle NetSuite's highest-priority markets, a senior company executive said, adding that small Indian businesses, especially those outside the big metros, are increasingly using artificial intelligence (AI) and cloud to expand into new states and, in some cases, overseas.

Speaking to PTI on the sidelines of Oracle AI World, Amit Suxena, group vice president and head of Asia at Oracle NetSuite, an AI-native business management platform, said momentum among Indian businesses had been growing over the last four to five years.

"One of the biggest advantages India has is that we have a young population which is actually now native to using cloud and AI, which means that India is not burdened like some of the other mature economies where they like to use legacy systems," Suxena said.


He said technology was narrowing the gap between small firms and large companies, letting smaller businesses grow beyond the city they started in.

"Overall, from a business perspective, I'm seeing a major shift in businesses from large metros to second-tier cities, especially smaller organisations. Typically, a large majority of small organisations in India tended to have operated just from the city they started in... We are now seeing that technology is making that possible," he said.

Earlier, only large companies had teams of experts to study a new market, Suxena noted. Small businesses can now use AI to check the rules and regulations of another state, decide which markets to enter or exit, and handle volatility such as currency fluctuations.

"We are seeing a massive momentum in businesses growing within India. Suxena termed tier-2 cities the company's biggest growth opportunity in India but also pointed out that cost concerns hold back small traders and entrepreneurs there.

"I have talked to business owners and I've realised that technology adoption in cities outside of the major metros is still lagging behind. And the reason for that is that people are afraid of the costs," he said, adding that NetSuite aims to show such businesses that AI adoption is neither as expensive nor as complex as they think.

Beyond tier-2 cities, Suxena said the company is bullish on services such as software, chartered accountancy and insurance, as well as manufacturing, retail and food and beverage.

On concerns about AI agents going rogue, Suxena said strict controls were critical.

"The risk is real for organisations where you have not built in all those checks and balances," he said. "For NetSuite, for every step of the way, we have built-in rules where you, as the business owner, are in absolute control of what action you want the AI agent to be taking on your behalf."

Drawing a parallel with the shift to cloud computing 28 years ago, Suxena said companies that stayed with older on-premises systems were "really left behind", while those that adopted cloud early are now "way, way, way ahead of competition".

"If you're not adopting AI today, you are basically missing out on a massive opportunity to grow. You might still be very efficient in what you do... but you're not imagining what you have not thought of. And that's the power of AI. AI allows you to do things which you have not thought of and act today versus waiting for something to happen tomorrow. So, adopt now is my advice to everyone," he said.