This is one of the most talked topics of recent time and which is why we have included it as current event this week. With growing digital literacy in India, our country will definitely be the technology capital of the world in the upcoming time. However, experts predict that Technology will be a key driver of India’s growth. India is embracing advanced technologies at an accelerated pace.
Current event this week – India predicted as the technology capital of World in upcoming time
1. India is World’s top exporter of ICT:
Most importantly, in the Global Innovation Index, published by the World Intellectual Property Organization (WIP), Cornell University and INSEAD. India has been ranked as the World’s top exporter of information as well as communication technology. India is also in 8th place for the Engineering Graduates. Similarly the Telecom industry is growing day by day and the government aims to grow ICT exports by 25% in the next five years. For more current event this week, stay tuned with My Education Wire
2. Growing Tech Startups:
Consequently, India is becoming homes to youngest Entrepreneurs in the world. The average age of founders is around 28 years. And did you know, less that 10% of all Indian entrepreneurs and engineers are females. From PayTm to Myntra to Flipkart, India has hit the mark by either massive funding rounds or profitable acquisitions by larger start-ups. With continuous innovation, India has become an exciting geography for startups to create scalable and repeatable business models. The startups are successfully serving the new age Indian consumer and businesses.
3. Increasing Investments, Mergers and Acquisitions:
Indian tech companies have been successfully making acquisitions and mergers, to not only expand the user base as well as operations, but increased tech adoption has definitely given upsurge to the analytics industry in the country. Over the next few more, many Indian startups will go global to make acquisitions and breaking into new markets. It is estimated that investments are expected to rise to a mark. Where valuations will reach to its peak and rationality will creep in. With access to incubators, accelerators and co-working space, this is already looking possible in the early ages.
4. Skill India Campaign :
Launched by Honorable PM Mr. Narendra Modi on 15 July 2015, Skill India campaign aims to train over 40 crore people in India. The campaign aims at improving digital literacy in different skills by 2022. Skill India program is looking forward to equip and train the nation’s massive workforce with employable skills and knowledge. Therefore, it will definitely help them contribute substantially to India’s industrialization and economic boom. Skill India is planning to tap the vast potential of indigenous manpower. For more current event this week, please stay tuned with My Education Wire
5. Emerging New Technologies in India with the support of NASSCOM:
Hon’ble Prime Minister of India, Shri Narendra Modi launched the FutureSkills platform on 19th February 2018. The association of NASSCOM with FutureSkills is on a way to get India accelerated. This is a journey to build skills and become the global hub for talent in the emerging technologies. FutureSkills aims to scale up the sector. In order to enhance India’s relevance in global market and create jobs in the country. FutureSkiills is designed as a source for the IT-ITES industry in order to enable discovery, continuous learning & deep skilling in 9 emerging technologies – Internet of Things, Virtual Reality, Robotic Process Automation, Big Data Analytics, Block Chain, 3D Printing, Cloud Computing, Artificial Intelligence and Cyber Security.
6. Tech center is more dynamic than Silicon Valley:
Today, India is an established technology powerhouse. 40% of the country’s business is IT industry. Bangalore has already emerged as the most dynamic city in the world ahead of Silicon Valley.
In addition, there are large number of software companies in India. Many top Indian firms are headquartered in Bangalore. Few of them are Wipro, MindTree and Infosys. Certainly, the ecosystem has seen a rising. As a result number of successful startups being churned out and exits taking place, showing signs of a maturing ecosystem. Even more this has lead to a substantial increase in high quality entrepreneurs, mentors as well as investors with past experience helping build and accelerates new businesses. While, Chennai city has a world class IT infrastructures as well as fast emerging destination for information technology outsourcing in India. Moreover, the south Indian city of Chennai has dedicated expressway called as IT expressways and a favored location for IT industries.
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