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There is a sizable opportunity for technology MNCs to target considering the scope of investment in digitization across government functions, says a report by Zinnov. The new Government plans to take digitalization to the next level by implementing the digitalization of agriculture & PDS data, enabling e-governance & m-governance, facilitating the National Rural Internet and Technology Mission, using IT for real time information gathering, and the digitization of all government files.
In the past, The Government has engaged multiple MNCs such as IBM, HP and Cisco for digitization projects.
The report identifies 5 growth levers -Digital India, India as the Innovation Hub, Next Gen Infrastructure, Enhance Ease of Doing Business, and Revive Manufacturing –that it says will be executed by a focus on 3S – skill, scale and speed propelled by technology.
85,000 Graduates from Top tier Engineering institutes, 1.2 million engineers graduated in 2014, entrepreneurial Indian mindset (4000+ active technology startups, strong Democratic Fiber (Well defined electoral processes) and Communication Infrastructure (200 million Internet users, second largest number of telecom users) are considered India’s 4 Growth Pillars.
Government has defined a 3-pronged strategy to makeIndiaan innovation hub. Firstly through enabling skills by the establishment of more premier institutes such as IITs and IIMs and the development of innovation accelerators supported by innovation infrastructure. An innovative ecosystem fosters high quality research. Secondly, giving proximity to customers will accelerate and improveIndiacentric product development.
And finally, innovative ecosystem will also allow joint R&D efforts across industries for accentuated product development. MNCs have been leveraging the Indian innovation ecosystem to develop products for the Indian customers.
So far, Technology MNCs have played a crucial role in the establishment of next generation infrastructure. The Indian government plans to invest USD 11 billion in the key focus areas to drive the next wave of technology-backed infrastructure growth.
Indiais already home to the most prestigious manufacturing companies globally like Bajaj, Hindalco, Reliance, Suzlon, Hero and Grasim. Modi’s government also aims to crank up the share of manufacturing inIndia’s Gross Domestic Product and to helpIndiatransform into a global hub for manufacturing.
The Indian Manufacturing Industry presents a USD 8 billion opportunity for the ICT sector by 2017. This is only possible when the Government’s push for manufacturing is backed by increasing adoption of IT and increasing relevance of IoT in manufacturing.
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