Manufacturing sector will be the next growth engine for Indian Economics
By MYBRANDBOOK
The Covid-19 pandemic is the deadliest outbreak in our living memory. The world has neither seen such a widespread shut down in mobility nor witnessed such a sudden economic slump.
With about 450 million social media users, 627 million internet users, and we are the largest consumers of the internet, which is why Netflix, Hotstar, Amazon Prime have become household names in the country. Applications such as WhatsApp, PayTM, Google Pay have revolutionized the way we communicate and transact money. India also has the highest average data usage consumption per smartphone at about 9.8 GB per month.
Our per capita data consumption is estimated at 11 GB per month and this is likely to grow to 30 GB in less than five years. This very growth will see rise in online transactions, e-commerce purchases, social engagement, watching movies online, internet based education, where schools are now delivering education through e-learning, telemedicine will also witness rapid growth. This will give rise to two things i.e. digital consumption and more and more global entities attempting to attract Indian consumers online.
Enterprises across the globe have been making every effort to safeguard their employees by following the rules and regulations laid out by the government. This has compelled organizations to shift to a remote work model overnight. As a result, employees are accessing enterprise applications, systems and data from multiple devices and internet connections. This gives a lot of entry points for cyberattacks. This sudden transition has introduced new uncertainties and heightened cybersecurity risks for organizations.
Mostly all sectors are going through a lack of work and production /manufacturing predicament which is leading to most of the companies to cut salary, lay-offs or close their production/work for the time being. Now the question arises should one opt for the Job loss insurance during COVID-19.
India has a magic and miracle left to experts to explore & decode. The gist of the story is India needs to be consistent and eliminate the certain residue of bureaucratic red tapisim. Achieving a strategic FTA with the USA, EU & UK will be a game changer. A major glitch on policy performance of India is contract enforcement and legal settlements. These two lacunas of corporate law need to be rectified at the earliest. To be fair the present administrative echelon (eh•shuh•lawn) are dealing mega projects with utmost care and additional benefits are getting handed out. In addition to this India now offers lowest corporate tax and ease of repatriation of dividend compared to anywhere in the world.
Bottom line is now the manufacturing in India is offering a two sided reward to improve top line and bottom line. The next gen manufacturing and intelligent manufacturing is perhaps having the best available support systems in India more than anywhere else in the world.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
HP INDIA SALES PVT. LTD.
LAVA INTERNATIONAL LTD.
TATA CONSULTANCY SERVICES
VERSA NETWORKS INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
Icons Of India : Daisy Chittilapilly
Daisy Chittilapilly is the President of Cisco’s India and SAARC regi...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
PARTNER SPEAKERS
PSU
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
