As India completes 70 years of independence, this ‘startup nation’ narrative has become an integral part of aspirational India and the best is yet to come !
Technology will benefit India, helping to raise productivity, improving efficiency across major sectors of the economy, and radically altering the provision of services such as education and healthcare. Emerging technologies like AI, Blockchain, SD-WAN, cloud security, IoT etc could add $550 billion to $1 trillion a year of economic value in 2025 and companies that play in this space and are early to market will reap the benefits.
If there’s been any doubt about India being the next major target market for tech businesses, Kleiner Perkins partner Mary Meeker’s latest Internet Trends Report should make that clear as day
With over 460 million internet users, India is the second largest online market, ranked only behind China. By 2021, there will be about 635.8 million internet users in India.
Further, the size of the Indian Internet market in terms of gross merchandise value is likely to rise from $11 billion in 2013 to $137 billion by 2020, according to a new Morgan Stanley research report. The market value of the industry could also touch $160-200 billion
Today, India is also a major player as an exporter of services, a manufacturing hub, and a promising low-cost, high-quality R&D investment. Indian businesses and services tap into the large university-educated, English-speaking talent pool at a cost unmatched in developed economies.
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