India is set to become a $1 trillion digital economy by 2023, via various government initiatives, such as Aadhar, GSTN, Bhim etc. There will be a JAM Trinity — Jan Dhan – Aadhar – Mobile — to enable digitisation across industries. The Indian IT industry currently has over 17,000 firms. There are 1,000+ are large firms, with over 50 delivery locations.
Now, FY 2019 has already seen socio-political events like the budget, industrial slowdown, global trade conflicts, elections, etc., all of which has impacted the industry to varying degrees. There are pockets of growth largely due to demand from tier 2 and tier 3 cities and the adoption of hyperconverged infrastructure.
Businesses must do more than digitally re-invent themselves. It will take more than technology and business to achieve growth and success. The market is currently stagnant. However, certain categories within the PC industry (e.g., Premium, Gaming, Ultra Slim etc.) are witnessing growth. It is important to innovate and launch products that suit the demands of the new-age consumers.
The traditional models of businesses are being challenged and new models are evolving. Across industries, the organisations are actively embracing new digital technologies. IoT, AI/ML, AR/VR, Big Data Analytics etc. becoming a reality with use cases. One major development is the cloud, which has led to several technologies such as datacentre, cloud migration, hybrid data management systems etc. There is tremendous growth in this area now, especially with the govt ruling to keep all data in India.
Growth in the market is expected to be driven by rising number of government initiatives. Overall, the industry is set to grow at a fast pace and take India forward. Pradeep Chakraborty Editor email@example.com