India is leading the Digital Transformation Wave
FY23 provides a lot of promise for the global society as it rebounds from the impact of the pandemic. On one hand, businesses are leveraging digital networks to improve customer experience and gain competitive advantages. On the other hand, governments are using the power of technology to bridge the economic and digital divide and build connected cities and villages. Data, technology, and governance are coming together to accelerate socio-economic change like never before. It's remarkable to see how the Indian government is actively encouraging local manufacturing and R&D. This will help businesses leapfrog to Industry 4.0. These are indeed exciting times, as this change is being led by our billion-strong populace. Another primary driver is the volume of data consumed, which is remarkable for a low per capita income country like India. India's per capita Internet usage has increased from 1.2 GB per month in 2018 to 14 GB per month in June 2021 according to the Economic Survey of India. This 12X growth in usage along with a multi-fold increase in internet penetration has set the foundation for the next phase of digital transformation.
Some examples:
• The digital payment market will reach $1 trillion by 2026
• The digital health and telemedicine market will be worth over $800 million by FY24
• The Indian ecommerce market is expected to grow to US$ 188 billion by 2025
Denne historien er fra June 12, 2022-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 12, 2022-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS