We tend to overestimate the effect of a technology in the short run and underestimate its effect in the long run,” wrote Roy Amara, the noted futurist. Fintech lending began to emerge in India around 2014, and soon mushroomed into a rapidly expanding ecosystem. Within the last five years, well-funded startups, banks, and big tech companies have all staked their claim to the fintech mantle with a plethora of products, partnerships, and apps. However, while this has created pivotal moments of innovation and disruption, some would also argue that the scale of fintech lending today is still small, relative to the overall market. Regulatory and infrastructure enablers remain a work in progress, and new-age risk and liquidity models are only now being truly tested by the economic slowdown.
These are valid observations. But what is missed is the extent to which the rise of fintech has catalysed broader changes in the economy. These are now beginning to accelerate. It was under similar conditions post the 2008 financial crisis, both in the US and in China, that fintech truly took off. We believe that India is poised at a similar inflection point, and here are five predictions of how that will unfold:
Diese Geschichte stammt aus der January 17, 2020-Ausgabe von Forbes India.
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Diese Geschichte stammt aus der January 17, 2020-Ausgabe von Forbes India.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
