During the past years, the Indian government successfully started various initiatives though, which resulted in meeting many of these challenges and in paving the way to digitization. The biometric identification program “Aadhaar” rang the bell for India´s digital revolution. Further projects like Jan-Dhan Yojana (providing a bank account for every Indian household), PAHAL (LPG subsidies for Aadhaar Card holders) and DigiLocker (storage of personal documents on a secured government server) followed.
Under the flagship campaign “Digital India”, the government continues to initiate further projects for the benefit of citizens as well as companies. The mission “Smart Cities” e.g. is supposed to change the urban landscape, to create new investment opportunities and to promote employment. Furthermore, the Indian government continues to strongly promote the transfer into a cashless economic system by pushing the establishment of digital payment transactions which has been thriving dynamically since the demonetarization in 2016.
Development continues to move forward slowly but steadily, with public-private partnerships playing a major role. Progress achieved in the fields of technology, connectivity, collaboration tools as well as improvements in management practice perceptively affect every day´s life, pointing out the importance of digitization to every individual. The limited access to electricity in rural areas remains a major obstacle for the further advance of digital technology, though.
Everyone, including the social sector, took benefit of the digitization. We observed a larger growth though in fields which are directly linked to state programs. The mission “Smart Cities”, e.g., will mainly contribute to the promotion of the construction and real estate industry, the infrastructure sector as well as the steel and concrete industry. „Make in India” and „Digital India” successfully opened up new chances for the technological sector. Some market leaders started to manufacture electronic products in India. The “Skill India” initiative is supposed to promote the digital infrastructure by enabling the mass scaling of competence development, using technology as a mechanism for mass supply.
We don´t see any areas that remain untouched by the digitization process, but the lack of legal clarity tends to have a negative impact on some sectors. Due to the political framework, companies like Uber and Amazon had to face several controversies with communal authorities – which is not compatible with business in the digital era.
In July 2017, Siemens inaugurated its first digital manufacturing plant in Mumbai – its third digital plant worldwide. More than five million devices are supposed to be produced here annually.
Like mentioned before, there are definitely challenges to be overcome in all areas – from establishing guidelines and adjusting workflows to initiating a profound change of mentality in bureaucracy.
We need to be aware of the fact that digitization in India means realizing a technological revolution in an extremely diverse country. As a consequence, there is a strong demand for consultants from all different service areas, especially from IT and Corporate Compliance.
There is major potential for German and European companies to be seen in the food and agriculture industry. So far both sectors are still poorly organized and locally restricted. There are extraordinary investment opportunities lying in the automation of industrial food processing and packaging processes as well as in data supply for precision farming. With a constantly growing population and an increasing urbanization, the demand for food will increase dramatically in the near future. An increase in purchase power will lead to a growing demand for high-protein food.
Progressive IT devices and services (e.g. cloud computing, blockchain) offer further investment and collaboration opportunities, especially with regard to the rapidly growing sector of financial services.
Sia ? 2 years, 11 months ago
During the past years, the Indian government successfully started various initiatives though, which resulted in meeting many of these challenges and in paving the way to digitization. The biometric identification program “Aadhaar” rang the bell for India´s digital revolution. Further projects like Jan-Dhan Yojana (providing a bank account for every Indian household), PAHAL (LPG subsidies for Aadhaar Card holders) and DigiLocker (storage of personal documents on a secured government server) followed.
Under the flagship campaign “Digital India”, the government continues to initiate further projects for the benefit of citizens as well as companies. The mission “Smart Cities” e.g. is supposed to change the urban landscape, to create new investment opportunities and to promote employment. Furthermore, the Indian government continues to strongly promote the transfer into a cashless economic system by pushing the establishment of digital payment transactions which has been thriving dynamically since the demonetarization in 2016.
Development continues to move forward slowly but steadily, with public-private partnerships playing a major role. Progress achieved in the fields of technology, connectivity, collaboration tools as well as improvements in management practice perceptively affect every day´s life, pointing out the importance of digitization to every individual. The limited access to electricity in rural areas remains a major obstacle for the further advance of digital technology, though.
Everyone, including the social sector, took benefit of the digitization. We observed a larger growth though in fields which are directly linked to state programs. The mission “Smart Cities”, e.g., will mainly contribute to the promotion of the construction and real estate industry, the infrastructure sector as well as the steel and concrete industry. „Make in India” and „Digital India” successfully opened up new chances for the technological sector. Some market leaders started to manufacture electronic products in India. The “Skill India” initiative is supposed to promote the digital infrastructure by enabling the mass scaling of competence development, using technology as a mechanism for mass supply.
We don´t see any areas that remain untouched by the digitization process, but the lack of legal clarity tends to have a negative impact on some sectors. Due to the political framework, companies like Uber and Amazon had to face several controversies with communal authorities – which is not compatible with business in the digital era.
In July 2017, Siemens inaugurated its first digital manufacturing plant in Mumbai – its third digital plant worldwide. More than five million devices are supposed to be produced here annually.
Like mentioned before, there are definitely challenges to be overcome in all areas – from establishing guidelines and adjusting workflows to initiating a profound change of mentality in bureaucracy.
We need to be aware of the fact that digitization in India means realizing a technological revolution in an extremely diverse country. As a consequence, there is a strong demand for consultants from all different service areas, especially from IT and Corporate Compliance.
There is major potential for German and European companies to be seen in the food and agriculture industry. So far both sectors are still poorly organized and locally restricted. There are extraordinary investment opportunities lying in the automation of industrial food processing and packaging processes as well as in data supply for precision farming. With a constantly growing population and an increasing urbanization, the demand for food will increase dramatically in the near future. An increase in purchase power will lead to a growing demand for high-protein food.
Progressive IT devices and services (e.g. cloud computing, blockchain) offer further investment and collaboration opportunities, especially with regard to the rapidly growing sector of financial services.
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