Being one of the fastest growing economies in the world, India offers a wide variety of opportunities in different areas spanning from agriculture to artificial intelligence.
With more than 1.2 billion population consisting of majority youth, India is all set to take a huge leap on consumption of advanced technology in coming years.
Taking into account the diversity of Indian population technology companies across the world will be looking for growth opportunities in India.
Anita Balakrishnan, a CNBC News Associate, notes down in her article titled ‘India reveals 6 truths about the future of tech that would surprise many Americans,’ that there would be a shift in technology companies making internet around English speaking Americans.
Her observations, as described in the article, may surprise Americans. But, technology companies would have to take note of these points if they want to make an impact in the country.
According to Balakrishnan, Apple still has a strong presence in the minds of Indian people.
“While U.S. consumers now have flagships from Samsung and Google that rival the iPhone, Apple’s brand power is still very strong in the rest of the world,” says the article.
At the same time, Microsoft doesn’t have the popularity it earlier had. Though the per capita Income of an Indian is quite low, Apple remains to be an aspirational product for them.
The US is inching towards a day when autonomous vehicles will dominate the roads. It may seem quite easy for Americans to make self-driving vehicles, the situation in India is very complex.
Learning the behavior of people driving vehicles is more important in India. So, the companies developing autonomous car would have to make it learn the behavior of people like the movement of eyes, track the distance of honking horns rather than making the car learn traffic rules and build technology around it.
Though there are many metropolitan cities like Delhi, Chennai, Bangalore, and Mumbai, lack of smart infrastructure is a matter of concern for India. So, demolishing old infrastructure and building a new one with modern technology is a necessity for a country like India.
US technology companies have made huge investments in India. While this investment creates job opportunities in India, it largely feeds the American tech ecosystem. The inequality created by such huge companies in India may become a point of discussion as the country is witnessing a resurgence of nationalism.
Another issue concerning India is data privacy. With the introduction of Aadhar ID, biometric data regarding a person is available with the government. So, it may lead to a possibility of a “surveillance state,” despite the factor that India is a democratic country.
Recently India made a huge improvement in the list of ease of doing business as per the World Bank’s Doing Business Report. Over the years, India has become an investment-friendly nation with better growth opportunities and resources.
At the same time, Indians who indent to start a new business in the US are turned away by the administration. As a result of the H-1B restrictions put into place by the US, the number of Indian IT professionals hired by the US companies has gone down last year.
If the competitive engineers decide to start their business in India, it would pose a serious threat to the US IT industry, the write-up notes.