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
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
DELL TECHNOLOGIES INDIA PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
TALLY SOLUTIONS PVT. LTD.
NETWEB TECHNOLOGIES INDIA LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SANJAY GUPTA
Sanjay Gupta is the Country Head and Vice President of Google India an...
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
PARTNER SPEAKERS
PSU
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
