The Indian government’s 1950 strategy was a very particular one, broadly aiming at rapid industrialisation abiding by the centrally aligned five-year-plans. However over the years, enterprises realised that mere industrialisation was not enough, there was a need to configure ways of “smart industrialisation” where in the picture came the need to make some concrete digital moves.
Prior to 1980 the Indian IT market was all about hardware products and the software industry literally did not exist. With some significant changes in the Indian economy, including trade liberalisation and relaxation in entry barriers; softwares came into existence in the country after the 90’s. Coming a long way in our Digital journey, starting from “smart industries” we are now deriving ways to establish “smart cities” leveraging technologies like Automation, IoT and Artificial Intelligence.
Trends that initiated India’s Digital way forward
#trend1 The desire of replacing manpower with “smart” power
A majority of Indian workforce was busy doing repetitive tasks that required no human judgment and critical thinking, reducing their levels of productivity and quality of decisions. Sooner or later the people of India realised that they need to replace human labor with smart machines, robots and other forms of automation in order to carry out the routine, repetitive back-office tasks. Thus pushing people to look for digital, automation solutions.
#trend2 The mission of becoming a “paperless, faceless, cashless” economy
the strengthening of the country’s Digital Payment Infrastructure and give every citizen a fixed India initiated the programme “Digital India” in 2015 as a way to push the country’s digital transformation forward and empower citizens in the process. The initiative was to work towards and secure digital identity. Various forms of promotions initiated by the government pushed citizens to feel digitally empowered and go cashless, bringing a boom of fin-tech startups.
#trend3 The vision of selling an “experience” not just a product or service
Taking a lesson from global competitors, Indian entrepreneurs realised how important it was to sell an experience and not just a product or service in order to survive and succeed all together in the competitive market. There came a need for enterprises to look for solutions that provide quality customer experience, before and after availing a service or buying a product; opening doors for all kinds of application solutions.
We’ve come a long way!
India’s digital journey has had its fair share of hiccups, along with ever changing needs of the indian consumers and the process flows of indian organisations, both public and private; it took us more than seven decades to call ourselves a “Digital Economy”. Today, India ranks third amongst the most attractive destinations for technology investments in the world. From Pharma to manufacturing to automobile, every sector has been working aggressively towards establishing the country as a leader in industrialisation and technological development.
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