Historically India has always been enriched to nourish its people with essentials. In the ancient days, the country became one of the most alluring places for inhabitance with its fertile land and protected environment. However with the changing time the world has moved to the technological upheaval, yet the country has not lost its importance in this sector too! While the technologically upgraded nations are busy in competing with each other, India is emerging as the next tech hub with all its powerful potential. The vast subcontinent is moving up fast, to enroll at the top of the list of the global tech market.
Rationale the Factors in Favour
The country is enriched in various aspects, whether it is the natural resources or the economic enrichments. Currently, the nation has turned to be one of the most aspiring tech hub, based on the situations and the possibilities. Let’s break them in details for a better understanding.
Half of the Indian population’s average age is approximately 35, creating a great opportunity to invest the young brains and workforce for a great economic establishment. As per the trends, India will never go out of the human resources and that is one of the most important benefits for any tech edification.
The country has the third largest online population in the world and almost 77% of Indians use a smartphone. Trillions of rupees have been raised by the Indian government through wireless spectrum auctions and currently, all the international telecom names have their eyes on India.
Change of perspective is one of the most important parts to gain the importance to become the next tech giant. India is improving on its buying habits and approach towards technological uses. The havoc use of electronic gadgets, mass use of internet and improving on lifestyle are curving the path for a tech boom. And thus India’s market dynamics make it irresistible to global tech companies, or rather, it’s about to be.
The Challenges
But while the country has a number of advantages, it lacks certain subtleties which thwarting the lightning growth of its becoming a tech hub. Most importantly a grand number of the youth are still less literate or illiterate for tech communiqué. People at a large number have no idea about bank accounts and credit cards which make traditional business models fall at the first hurdle.
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