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INDIA IS AN UPCOMING TECH PARTNER
With over half a dozens of initiatives taken by our Prime minister Narendra Modi , India is all set to become global technology hub . In the coming years , technology driven innovation is about to spread in India and go mainstream across every sector of services . Also relaxation in FDI norms has made this goal even easier .
India has a colossal talent and growing and blooming startup ecosystem in the technology space . As the tech startup ecosystem garners significant focus and spotlight right from government’s “Start up , Stand up India“ initiative to access to private funding and foreign investment ,it is the right time for evaluation of Indian technology startup ecosystem in terms of its ability to actively participate and drive the upcoming global innovation .
Numerous tech giants such as Google ,Microsoft , Apple have decided to partner with Indian companies in almost every sector viz. tourism , finance , health , cyber security , e- commerce , robotics and drones for instance .Over 200 fintech startups have emerged in last one year . India is one of the leading countries with a significant number of fintech startups spanning across digital wallets and payments (Mobikwik ,Paytm ,Paymate ,Chillr ) telecom carrier billing (Paychamp ,Ipayy ) and mobile POS (epaisa , Mswipe etc.)
Technology has become a serious need of human lives indeed , and it accelerates its importance when it comes to climate and human health .Solar powered water transport , industries running on renewable energy , connected cars ,cleanliness drives and agriculture have taken technology boost up . Tech companies in India have driven growth , created jobs , increased access to resources ,education and healthcare resulting in falling poverty levels and improved lifestyle .
A report by NASSCOM ranked India as 3rd largest startup ecosystem with more than 100 accelerators ,200 active angels ,150 VC’s and over 4200 startups operating in the region in year 2015 . The nation is on the forefront of innovation , technology and entrepreneurship . It is home to some of the youngest entrepreneurs including a large number of females in the world .There exists an opportunity to bring global startups to India to target the Indian consumer . We have already observed a surge in global players like Google ,Alibaba and Facebook who want to capitalise on India’s growth. Over the years , India has managed to overcome multiple adversities , including the dearth in infrastructure , shifting economic environments and inefficiencies within the system . The ecosystem has come of age and there are now more platforms for increasing connectivity and partnership round the globe . The country is speedingly pacing up in this direction and the destination is not much farther .