Is India at the center of a tech revolution?

As the seventh largest country in the world, with a population of over 1.4 billion people, India has been a strong global influence for many thousands of years. Known for its amazingly vibrant culture, fascinating history, and fast-growing economy, this impressive nation continues to grow and develop its place on the international stage. In particular, the world of new technology is playing a major role in India’s national development. The country has been a longstanding hub for IT services and telecommunications – in fact, the IT industry has been estimated to constitute 7.5% of India’s total GBP, and the nation’s reputation as a digital hub seems only set to strengthen as its economy grows and develops in the future. All the latest developments in technology seem to suggest that the nation is at the centre of an ongoing tech revolution. So, what are the driving forces behind this rapidly escalating technological wave? We’ve taken a closer look at some of the key factors involved in this exciting phenomenon.

Gaining Momentum: India’s Thriving Tech Market

Due to the continued success of India’s role in the world of tech, many global industry giants have been taking notice and seeking to expand their operations in the country. Thanks to the advancements that have been taking place, the market is gaining momentum – Tim Cook, the CEO of Apple, recently described India as an ‘incredibly exciting market’ as he outlined the company’s plans to expand its presence in the country. Interestingly, Apple assembled $14 billion of iPhones in India last year, demonstrating how the momentum of the country’s output is increasingly catching the attention of major international companies.

Thanks to changes to regulations and the increased accessibility of smartphones in India, there are new frontiers in the world of iGaming technology in the country – and its emerging mobile gaming market is rapidly becoming one of the largest in the world. The nation’s economy has seen an impressive boost thanks to the rise of mobile esports, casino table games and sports betting, which have all garnered massive popularity amongst the young population of the country. As this particular industry continues to flourish, India-based gamers often find themselves checking out some reviews of casino sites in India, as the market has already become packed with options for avid gamers. iGaming will certainly play a key role in the digital revolution in India – it’s still early days for the industry here, with many states yet to legalize online betting. However, experts are predicting that regulatory changes are in the works across the nation’s states, which could hopefully open up new avenues for development.

Homegrown Tech Giants: Influential Indian Companies

India is home to some highly successful tech giants – including several unicorn startup companies – which are continuing to have a keen influence around the world. The city of Bengaluru has even been nicknamed the ‘Silicon Valley of India’, thanks to numerous multinational technology corporations choosing it as their base. These companies have not only created millions of jobs within India but have also positioned the country as a key player in the global industry.

Flipkart, established in 2007, is one of the nation’s leading e-commerce platforms which sells over 80 million goods in a massive variety of categories. This thriving company benefitted from investment from the Walmart group in 2020, with investors pouring an enormous $1.2 billion into Flipkart’s operations. With its headquarters in Bangalore, this successful online sales website is hugely popular in India – and even outsold Amazon by almost two to one during the festive retail season in 2020. In April 2016, the company’s two founders, Binny and Sachin Bansal were named in Time magazine’s list of the 100 Most Influential People In The World – demonstrating the impressive entrepreneurship on display in the country today.

Another impressive unicorn startup with headquarters in Bangalore is of course Ola Cabs, the transportation and ride-hailing company. Operating in over 250 cities, the company has grown to become a global leader in transportation services – it is now the largest mobility platform in the country, providing cab rides, bike and rickshaw hire and trip planning for millions of customers. Ola has even begun to pioneer a new fleet of electric vehicles known as ‘Ola Electric’, demonstrating the forward-thinking approach of Indian entrepreneurs.

People Power: A Skilled Workforce

Estimates place over 65% of India’s population below the age of 35 – and over 50% are below the age of 25 – which means the nation is home to an incredibly vast workforce of young talent. This incredibly youthful country has a significant advantage on the world stage when it comes to technological prowess, with its education institutes producing an enormous number of IT and engineering graduates with every passing year. Technology has been a keen focus of the nation’s higher education courses, with 23 IITs (Indian Institutes of Technology) based all around the country, alongside an impressive quantity of other globally respected universities.

In order to stay ahead in the ever-changing world of tech, various government and private initiatives have been set up that focus on upskilling the workforce to meet the demands of this rapidly evolving industry. As new advancements like artificial intelligence systems continue to progress at an unbelievable rate, government-backed programs like Skill India are providing skills training in emerging technologies like generative AI, machine learning, and blockchain.

What’s next for India’s tech industry?

It is clear to see that India is becoming a tech powerhouse on the international stage, but to maintain its growth, the nation will need to tackle several challenges. Gaps in infrastructure and limiting regulations will need to be addressed so that this powerful nation can sustain its contributions to the digital world. Cybersecurity and data privacy are also critical concerns, which will require robust policies and frameworks to protect businesses and customers alike. On the whole, the future looks bright for the technological revolution in India. Driven by the nation’s young, innovative workforce, alongside the success of both domestic and international companies on Indian soil, this highly influential country is now in a strong position.

Ultimately, there is no doubt that India is at the centre of a tech revolution, and is sure to have a key role to play in the ongoing generation of new ideas around the world. If its entrepreneurs continue to innovate and embrace new technologies and keep up with global developments, the country is undoubtedly set to play a pivotal role in shaping the world’s digital landscape. This is undoubtedly one of the most exciting markets in the world right now, and it will be fascinating to watch what happens next!