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INDIA: A SUCCESS STORY

The technological prowess, knack for innovation, appetite for technology and the widespread use of the internet has helped India to become a note-worthy force around the globe. As a result, it is one of the fastest-growing and sixth-largest largest economies in the world. Be it the infrastructural advancement, improving digitization trend, the prospering start-up ecosystem, all these factors showcase the growth of India. Take a glance at how India is walking the path of development consistently in every aspect.

The Emerging Market

The emerging markets are the developing nations that have a crucial role to play in the global economy. The consistent GDP growth coupled with valuable investment opportunities is what makes any nation a contender for the same. India is one such emerging market! It has prospered since the economic liberalization in the 1960s. The concept of an emerging market is employed to evaluate the development of the countries on the industrial and market front. This is because not only India is one of the hotspots for higher education but it continues to be one of the fastest-growing economies of the world. The creative and innovative minds nurtured by the Indian higher education institutions are the ones responsible for conceptualizing the idea of start-ups.

Automating and innovating through AI Automating and innovating through AI

The hands-on and analytical education imparted in the institutes pushes students to think out-of-the-box and develop innovative thinking. As a result, the constantly thriving economic sectors like fintech, e-commerce, pharmaceutical have garnered global attention. Apart from these booming sectors, India is making significant growth in the field of Artificial Intelligence (AI) research. ...

High-Tech Infrastructure

The infrastructure sector is the cornerstone of the Indian economy. Being one of the most vital sectors, it plays an important role in the complete development of the country. All the major Indian cities have IT parks and electronic cities, such as HITEC in Hyderabad, Rajiv Gandhi Chandigarh Technology Park in Chandigarh, Infotech Park in Mumbai, etc. All these IT parks not only have stunning infrastructure but are equipped with every facility one can think of.

Showing hightech infrastructure throw mumbai worli sealink and skyline buildings Bandra-worli sea link, Mumbai

On the other hand, the success of the metros is a testimony of the technological advancement and modernization of the transport system in India. First started in the capital city, Delhi, metros enable affordable, fast commutes for people. Be it the electronic cards that can be recharged online through mobile apps, the Ticket Vending Machines for contactless transactions, proper connectivity within a city or availability of eating joints, the tech-driven services have made travelling very convenient. ...

Digitalization in India

The digital capability of India continues to surge at an impressive rate. The increased availability of smartphones and good internet connectivity, as well as penetration, has made India home to more than 560 million internet users. This rapid growth in digital infrastructure has put it in the forefront in terms of technological innovation. Be it the availability of day-to-day services through mobile and online platforms or cashless transactions, India continues to achieve digital transformation in every field.

Men conducting work through his digital tablet Men conducting work through his digital tablet

The hands-on and easy to use applications are a perfect example of digitalization in India. For instance, domestic travels have become trouble-free with apps like Redbus (for buses) and IRCTC Rail Connect (for trains), payments have become cashless with apps like PayTm, PhonePay, Razorpay, medicine delivery/ online doctor consultation/ online booking for lab tests is a few clicks away with apps like Practo, Apollo Pharmacy or Netmeds, search for accommodation in a new city is enabled through apps like Oyo, Nestaway or Housing.com and the food cravings can be handled with apps like Zomato or Swiggy. ...

Start-up Hub

The increased internet penetration in every part of the country has paved the perfect path for a number of start-ups to rise, reach out to more people and address unique issues with their respective products and services. The perfect example is that of Paytm, a leading financial services company that provides payment and financial solutions. Founded by Vijay Shekhar Sharma, the start-up initiated the digital revolution in the country and became India's leading payments app. Another notable example is that of OYO. An Indian start-up that has flourished globally and has made accommodation booking very convenient.

Group of people discussing and working on the laptop Group of people discussing and working on the laptop

With the constant support of the Start-up India initiative and the success of many start-ups, global investors continue to invest their trust in Indian companies and the investment is growing each year. In addition to this, the Government of India has introduced a handful of funding schemes to extend its support to the overall start-up ecosystem. Some of the sectors performing exceptionally well in the start-up ecosystem include fintech, EdTech, e-commerce and online gaming.

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India is home to the second-largest pool of Engineers and Scientists.

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