By Vasundhara Rastogi
India has successfully established its information technology (IT) and IT enabled services sector, which currently accounts for about 67 percent of the world’s US$124-130 billion IT market. Overall, the IT sector generates over 10 million jobs in India.
This has led to the growth of several IT hubs across the country such as Bangalore, Delhi National Capital Region (NCR), Pune, and Hyderabad. While Bangalore is still regarded as the Silicon Valley of India, Delhi NCR is fast emerging as India’s foremost IT destination.
By Bradley Dunseith
India is becoming an increasingly big player in the international medical tourism industry, otherwise known as Medical Value Travel (MVT). By 2020, India’s MVT industry will more than double its current US $3 billion in revenue to US $8 billion, with a compound annual growth rate of 15.6 percent.
Indeed, foreign nationals in need of complicated treatment, surgeries, and operations are increasingly choosing India because of the country’s affordable, high quality medical care. In 2015 alone, 500,000 foreign nationals visited India for medical care.
India’s rapidly growing MVT market offers huge potential for new investments in private medicine as well as value-added travel, which focuses on a patient-oriented business model.
By Melissa Cyrill
India is embracing luxury at its best.
This increasing sense of ‘brand-consciousness’ among Indians is principally attributed to the country’s burgeoning aspirational and younger middle class. At the same time, increased internet penetration has also contributed to this consumer behavior, allowing consumers to search and satisfy their desire to own and possess designer brands.
By Pritesh Samuel
This week, the domestic media reported that Apple is set to manufacture its iPhone SE model in India. Taiwanese contract manufacturer Wistron Corp will manufacture the phone.
While the proposal will need to be approved by the prime minister’s office due to special incentives requested by Apple, things seem to be moving forward quickly as Apple is eyeing India’s Silicon Valley in the southern city of Bangalore as its ultimate destination.
India is a mobile-hungry market dominated by Samsung, followed by several Chinese manufacturers, such as OnePlus, Xiaomi, Oppo, and Lenovo pushing out Indian smartphone manufacturers from the top five list; Apple is 10th . The budget smartphone market between the price range of US$149 to US$223 dominates India’s smartphone business.
By Dezan Shira & Associates
The Ministry of Health and Family Welfare recently notified the Medical Devices Rules, 2017. Many medical device businesses have welcomed the new regulations; the Drugs and Cosmetics Act, 1940 – designed for the pharmaceutical industry – had previously regulated the fast growing industry.
Industry experts estimate that approximately 80 percent of the medical devices in India are imported, a significant share of a market that is valued at over US$10 billion. While this market has grown from a US$6.3 billion value in 2013, the industry’s dependence on imports has gotten worse: India imported 70 percent of its medical devices in 2015.
By Melissa Cyrill
India is a global leader in the automotive sector, backed by its domestic production capacity, market size, and exports. On average, the country’s automobile sector boasts of an annual production of around 24 million vehicles; the sector also employs over 29 million people (directly and indirectly). Breaking down its global position by industry segment, India is the world’s largest tractor manufacturer, second largest two-wheeler manufacturer, second largest bus manufacturer, fifth largest heavy truck manufacturer, sixth largest car manufacturer, and eighth largest commercial vehicle manufacturer.
This article discusses the growth trends in the automotive sector in India, which offers a highly attractive investment landscape for foreign investors and manufacturing firms. Testament to this is the fact that South Korea’s Kia Motors, Daihatsu from Toyota, PSA Group’s Peugeot Citreon, and three car makers from China, Beiqi Foton, SAIC, and Changan Automotive desire to enter the Indian market, pivoted to become the third largest in the world by the end of the decade.
By Melissa Cyrill
Artificial Intelligence (AI) and the Internet of Things (IoT) dominate Ericsson ConsumerLab’s annual trends report for 2017 – a direct reflection of the explosive proliferation of advanced technological implements for every realm in our lives, from our homes to the workplace to our smartphones to culture and entertainment. Today, consumers, IT companies, scientists, and manufacturing firms – all overlap in their acknowledgement, acceptance, and adoption of automated technologies, applications, and self-thinking machines. Above and beyond, these are seen to enhance the modern lifestyle, reduce operating costs, and accelerate the pace of invention and innovation.
In other words, AI, IoT, virtual reality (VR), and merged reality (MR) have altogether disrupted the two-dimensional interface of internet communications technology (ICT) and its application in our lives.
By Melissa Cyrill
All around the world, a decisive shift has emerged in favor of the adoption of renewable energy sources. Reflecting this, is the international consensus that fell behind the Paris Agreement in record time. As of October 5, 79 countries have ratified the Convention to the historic climate accord, including India, which signed it on October 2. Having surpassed the required ratification threshold, the Paris Agreement will come in force on November 4, 2016.
Aside from its political support for the tackling of climate change, India is a keen partaker of the shift to renewables. Under the present government, the country has set itself ambitious targets for clean energy production backed by investor incentives and regulatory changes. This article will discuss India’s rapidly expanding solar generation capacity, which is at the forefront of the country’s clean energy vision, the investment outlook of the solar sector, and finally the challenges to be addressed.