India has all the ingredients necessary, from smartphone technologies to space researches, to become a global 'Tech-Leader'. India's economy is growing at an enormous rate and has the largest working manpower in the entire world. India is next to become the most populous country beating China, it is the 2nd most growing market for smartphones, is in among top 10 in automobiles, and stands 2nd in terms of number of internet users and provides world's cheapest mobile data.
With massive growth in smartphone and internet users, India is heading towards becoming a digitally connected nation. The internet and smartphone growth is enhancing the growth of tech companies in the sectors like e-commerce, cab services, logistics, mobile-payment, internet banking and social media. India is all ready to dominate the internet services business in very near future.
When most of the smartphone markets are being saturated, India is experiencing a huge demand in smartphones. And taking this advantage, India has attracted many manufacturers and brands to set up their manufacturing and R&D(Research and Development) divisions in the country under Make in India initiative, which turned India into having over 200 smartphone and accessories manufacturing plants compared to only three in 2014. Major manufacturers like Foxconn, Vivo, Oppo, Oneplus and many more are having their R&D and manufacturing units in the country.
Samsung has even built the world's largest smartphone manufacturing unit and Oneplus is investing in building their one of the largest R&D center in India. The smartphone assembling ecosystem is very well established in India and the country is now heading towards manufacturing the crucial components of smartphones like displays, motherboards, batteries, camera modules, adapters and so on. India is looking forward to beat China and become the no.1 global exporter of smartphones and accessories.
India is also one of the most growing automobile market, and we can surely observe better development in this sector as well. The market leader in passenger vehicles in the country is Maruti Suzuki having 50%+ market shares, followed by Tata motors, Mahindra & Mahindra and so on. Even though India is not very competitive in the Luxury vehicle segment, it is a major player in the mid-range and SUV segment. Indian market has attracted many global players like MG motors, Jeep, Kia and are attracting the luxury brands like BMW, Mercedes to set up manufacturing divisions in the country, while the JEEP compass is all set to be manufactured in India from 2019.
And it is great to observe changes in the marketing strategies of the local manufacturers, for the 1st time since their existence we can witness Tata and Mahindra pushing their way to the global stage in the passenger vehicle segment. Mahindra is pushing its XUV500 globally and Tata is all set to hit the market with the Harrier's global version, the 'Buzzard sport'. And these two brands are leading the country towards electric mobility.
Tata is competing in the global market with its subsidiary Jaguar Land Rover (JLR). And Mahindra is in the game with its South korean firm SsangYong, and Italian firm Pininfarina S.P.A. which launched the beast, The Battista with speed from 0 to 100 km/h in less than 2 seconds (faster than an F1 car)
So Indian car makers are not very far from being globally recognized and taking the lead.
India is already the leading sourcing destination across the world, accounting for approximately 55% of the IT(information technology) market in the U.S valued US$ 185-190 billion in 2017-18. Tech Giants like Tech Mahindra, TCS, Wipro, infosys and many more have over 1,000 global delivery centers in about 80 countries across the world.
More than 70% of the total revenue (US$ 181 billion) in the IT industry of India was generated through exports in 2018-19. IT industry employs nearly 3.97 million people in India. The industry added around 105,000 jobs in FY18 and is expected to add over 250,000 new jobs in 2019. The government has identified Information Technology as one of the 12 champion service sectors for which the government has set up a fund worth Rs 5,000 crore (US$ 745.82 million) for realizing the potential of these champion service sectors. India is already the Global leader of Information Technology industry and is looking forward to make more development in this sector.
And ISRO is also giving a tough competition to other space organisations as it has successfully launched its satellite, 'Mangalyaan", in Mars orbit the and is only the 4th space agency to achieve so.
India is experiencing an enormous growth in the technology industry and being the home to a large number of Engineering graduates, India seems to have a better future in this sector.
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