Liberal policies, Government support, and huge development in other economic segments have made the Indian banking industry more progressive and inclusive with regard to global banking standards.
IT / ITES
The industry has not only transformed India’s image on the global platform but also fuelled economic growth by energizing the higher education sector (especially in engineering and computer science). The industry has employed almost 10 million Indians and hence, has contributed a lot to social transformation in the country.
HEALTHCARE / HEALTH TECH
Healthcare industry in India is said to be one of the fastest growing sectors backed by India’s rising income, health awareness, and access to insurance, but also due to the increase in lifestyle and stress-related diseases. The IBEF has estimated the Indian healthcare market to be valued at $372Bn by 2022.
FINTECHS / STARTUPS
2019 was a year of MASSIVE growth for the world of Indian startups. Over the course of 2019, 7 new unicorns emerged, bringing the country’s total to 24 (the 3rd highest in the world after China and the US). This is a massive surge from the 2 the country had in 2013.
SME sector of India is considered as the backbone of economy contributing to 45% of the industrial output, 40% of India’s exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets.
The e-commerce has transformed the way business is done in India. The Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Much growth of the industry has been triggered by increasing internet and smartphone penetration. The ongoing digital transformation in the country is expected to increase India’s total internet user base to 829 million by 2021 from 636.73 million in FY19.