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The Next Decade in Indian Tech Investment

While India has consistently been a strong name in the software development and support space, there are other areas in hardware consumption where the nation often falls behind. However, recent interest from multinational companies is beginning to buck this trend. India appears on the cusp of getting new flows of investment, with profound implications for tech enthusiasts and average users.

Looking at the Numbers

According to reports from 2022, the Internet penetration rate in India rose by 5.4% between 2021 and 2022. In real terms, this represents an additional 34 million people online, bringing the total online penetration rate to 47%. Overall, the number of internet users within India now reaches over 658 million.

In 2015, India’s internet penetration rate was only 27%, with the following six years representing a rapid 20% growth. The speed of these internet systems currently reaches a median of 14.4 Mbps on cellular networks and 47.4 Mbps on fixed-line connections.

Combine these statistics with a median age within the country of 29 years, some of the biggest salary increases in recent history, and tech interest growth has been all but inevitable. With higher speeds to take advantage of, systems that more users can afford, and demographics in the prime online tech age, there is a vast pool of new potential customers reaching out. International tech and tech-related industries understand the possibilities in this still untapped and developing market, and they’re making a move.

Building Momentum within Tech

On the hardware side, it’s the development of new online connectable hardware that serves as the most illustrative step forward. Apple has been one of the early contenders in this sphere, targeting the world’s second-largest cellphone market with a new manufacturing facility opening in Sriperumbudur in 2022.

 

 

Working on the new generations of iPhones and AirPods has demonstrated that it’s not just an increase in demand that has pulled in developers, it’s also a consolidation of manufacturing talent. These high-tech facilities require skilled workers, offering a broader and more general illustration of the involvement Indian people have with cutting-edge standards of device building.

On a more individual level, entertainment use has proven a significant aid in creating a feedback loop in how users engage. For many, such involvement is best demonstrated in low-cost video streaming systems which far surpass the potential of traditional broadcast television. Services like Hotstar and Netflix pull audiences in with their potential for more titles for less money, and greater involvement then creates a desire for more streaming devices. This effect can be more pronounced in video games, where the increased reliance on technological knowledge can feed a growing interest in the advantages of new and cutting-edge tech. Many of these offer free trials, so barriers to entry are low.

Finding a place in the middle ground are interactive tech-reliance services like online casino websites. These platforms like Euroslots and Ruby Fortune work just as well over mobile and desktops and offer a range of titles that are easily approachable to beginners. They even go a step further by offering features like free spins casino titles to open the doors. With the potential to win something for nothing, this is another area where an extension of traditional systems can create a broader appreciation and level of involvement with new generations of tech.

Millions on the Table

As much as the tech market has evolved within the last ten years alone, there are still hundreds of millions of customers in India who are yet to have access to even the most basic online devices. With the stage set thanks to hardware and software teams, the 2020s is looking to be a decade where investment within India continues its rapid expansion.

More impressive than the current rate of penetration is how the last few years have been picking up speed, rather than slowing down. Over a third of India’s popularity exists within urban centers, where it’s much easier to install wireless and wired networks. Moving out into more remote regions presents challenges with geography and reach, yet the rollout still proceeded smoothly.

According to statements by Modi, a key part of the new few years comes from an attempt to catch up to international standards. With the PM dedicated to 5G and promising to start rollout on a theoretical 6G rollout by 2030, the goal is to develop enough to get ahead of the curve, instead of continually playing catchup.

With complexities in chip developing markets, politics, and coming concerns over climate change, it’s impossible to predict how smoothly tech hardware and software rollout will proceed in the decade to come. Investment, however, seems guaranteed at this point. India’s part in the market is more important than ever, the barriers to entry are lower, and the international community can no longer afford to stand by and watch potential pass it by.

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