Youth – Page 12 – Into India

7 ways to succeed in wonderful India

This short list can be your guide to success in wonderful India:

Bring a culturally aware and adaptable mind to India – you will need both. By “culturally aware” I mean more than how to greet and exchange cards. Cultural awareness is understanding how the other thinks and requires some study and effort.
Develop some flexible plans for India – they will need to change!
Commit to India for the long term. One or two years is not enough. I have been going to India since around 2005 and still learning new things and making new connections – to find a way through the maze that is India.
Make social media a part of your program to build your brand and product awareness in India – the shift to social media/digital marketing there is huge.
Adapt planning and approaches for the need of your business and sector. You might need a quick market study – or you might need studies over several years. Each is different.
Learn as much as you can about your potential market – connect with your potential customers and see how they operate and what is happening in their sector.
Let the market build a relationship with you and learn about your business. Again, like all the other points, this takes time.

CONCLUSION

It is going to take time to succeed in India. But for one of the biggest most dynamic markets with the youngest population on the planet, investing your time will pay off.

Why get closer to India? About 600 million people, more than half India’s population, are under 25 years old; no country has more young people. Remember the economic impact of the western “baby boom”? It is time the west moved closer to India in trade, culture and tourism. What do you think? As the great Indian philosopher Rabindranath Tagore said: “You can’t cross the sea merely by standing and staring at the water.”

Google backing India as it becomes cautious on China

Google plans to invest US$10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.

Mr Sundar Pichai (pictured below), who was born in the country and is currently chief executive officer of parent Alphabet Inc., made the announcement at the annual Google for India event via video conference.

He said, “This is a reflection of our confidence in the future of India and its digital economy”.

The US$10 billion funds are expected to be invested in partnerships, operations, infrastructure, the digital ecosystem, and equity investments. Google will focus on several key areas:

Providing affordable access and information for every Indian in their own language, including Hindi, Tamil, and Punjabi
Developing new products and services focused on India’s unique needs
Encouraging businesses as they continue or embark on their digital transformation
Utilising technology and artificial intelligence for social good, in areas like health, education, and agriculture

INTO INDIA can report there are more than 500 million internet users in India, second only to China, with growth that has attracted all the American technology giants.

Google is already using AI to predict floods in India

For those watching political and strategic shifts away from China – earlier this month, Google stopped its plans to offer a new cloud service in China and other politically sensitive countries.

India has had a surge of foreign interest in its digital economy. In the last few months, investors including Facebook Inc., Qualcomm Inc. and Intel Corp. have put around US$16 billion in the digital services unit of India’s largest conglomerate, the retail-to-telecom giant Reliance Industries Ltd.

Google, Facebook, Amazon.com Inc., and others are investing billions into the market.

As China seems less attractive for investors, India has the opportunity to shine and show its true attractions to investors and business.

Indian retail massive shift to online

INTO INDIA has previously commented on the changing face of retail in India. Now here is the BIG NEWS:

The Indian online grocery market is estimated to exceed sales of US$3.19 billion in 2020.

This is a massive 76% jump over the previous year.

FMCG retail in India is being transformed – and it is not just Covid 19 – new younger urban consumers prefer tech shopping.

Flipkart is the biggest online retailer with about 38% market share, closely followed by Amazon.

For Australian businesses, Austrade has established The Australian Store at Amazon India.

7 ways Australia could build relations with India to balance China

While it is true that India is not just another China, there is a good risk management case for improving Australia’s trade and diplomatic relations with India.

To give energy to this relationship, Australia should take eight urgent steps:

(Keep in mind most of this relates to “post-Covid” but some could action now)

First, we should be flat out campaigning to get more Indian tourists down under. They now have the money, and a campaign for tourism would also communicate our culture to the broader Indian public. Let’s get Australia on the billboards, on the cable TV and in the cinemas in India.

Second, encourage Bollywood to make more films down under and help them show the diversity of the Australian population and culture.

Third, reinforce our intellectual property and leadership in the twin areas of high demand over there – health and education.

Fourth, take more initiatives to exchange knowledge and services in the waste management and waste disposal fields – we are pretty good in this, with some of the cleanest cities in the world, and India is worried that rubbish is taking over their country.

Fifth, create ways we can work closer on sustainable energy.

Sixth, make sure Indians are aware of our global leadership in fields such as wealth management, a growing need over there. The best way to do this would be to increase our investment into India.

Seventh, provide cultural training to Australians in all fields who are to visit India, so that our blundering around (which we often see as down to earth and friendly) does not continue to cause offence or confusion among our hosts.

India to benefit from Industry 4.0 says head of Rolls Royce

The fourth industrial revolution also known as Industry 4.0 or a new age of connected technologies and data-driven insights is now upon us and is changing the way we live, work, and interact with each other.

One of India’s inspirational business leaders is Kishore Jayaraman, President, Rolls-Royce, India & South Asia. He has a vision for India and Industry 4.0.

Industry 4.0 is all about innovative technologies, such as artificial intelligence (AI), mass automation, industrial communications, Big Data, robotics and 3D printing.

According to HSRC’s “Global Industry 4.0 Market & Technologies 2018-2023” report, the global Industry 4.0 market is projected to reach US$214 billion by 2023.

The Indian government estimates India’s manufacturing sector would breach US$ 1 trillion by 2025.

But Kishore Jayaraman (pictured above) warns that Indian manufacturers need to move beyond the current status, characterized by manual inputs, lack of ICT integration in manufacturing, and critical gaps in capability, to move to the next stage and fill the critical technology gaps.

He says: “To that end, government’s ‘Make in India’ initiative is providing the groundwork for both small and large companies to develop advanced manufacturing capabilities and invest in technology upgradation.

“Additionally, programmes such as green corridors and smart cities have been launched to support critical technology interventions across various industries. Besides creating jobs, these initiatives appeal to a new generation of workers with different values and skills that boost synergies,” he said.

Here’s how he sees India benefiting from Industry 4.0:

First, it will allow manufacturers to improve productivity, efficiency, safety and performance and help position India as a global manufacturing hub.

Several Indian e-commerce companies are using advanced data analytics to gain insights on customer behavior and improve business performance. Likewise, manufacturers can implement data analytics to improve forecasting, predict and prevent manufacturing downtimes, manage supply chain and enhance production capacity and quality.

Second, Small and Medium enterprises (SMEs), which form the backbone of Indian manufacturing, can leverage Industry 4.0 technologies to become more agile, enhance productivity, streamline costs and reduce risks.

Third, employers will be able to increase the skills of their workforce. While some jobs may be lost, new ones will be created in the new economy. New technologies inadvertently require new skills and trained Industry 4.0-ready workforce especially in areas of cognitive robotics, advanced automation and industrial ICT. Training in safety-related skills will also come into play with an increased level of human-machine cooperation.

Finally, Industry 4.0 could provide a pathway for Indian manufacturing to transform to an innovation-led and high-value manufacturing stage. Technology-intensive sectors such as the Aerospace & Defence (A&D), which is at the cusp of innovation and growth in India, are clear beneficiaries.

At Rolls-Royce, Industry 4.0 is a critical aspect of business and strategy – using connected systems to make better decisions. This brings together a number of technologies, such as the Internet of Things, intelligent manufacturing, digital product verification as well as virtual design and simulation.

Marketing to India’s millions is now about social media and e-commerce

India has 560 million internet users – and growing fast.

Over 450 million will be social media users within 2 years.

India is a young population – the median age is just 27.

E-commerce will be over A$100 billion by 2026.

Australia now has a good starting point thanks to Austrade – we have the AUSTRALIAN STORE at Amazon India.

Check it out.

India also has some of the world’s best digital marketing agencies – one leader was SOCIAL WAVELENGTH which has now become Mirum India – top outfit.

I have great respect for Mirum India which is led so well by Sanjay Mehta and Hareesh Tribrewala.

Indian startups are driving growth and change

There are many drivers of India’s economic growth and transformation – but certainly punching above their weight are Indian startups.

There were over 50,000 startups in India in 2018.

India has the third largest startup ecosystem in the world.

The success is partly driven by corporate India (which is providing much of the funding) and by the Indian Government policies.

Bengaluru is in the world’s top 20 startup cities and ranks in the top 5 of the “fastest growing”.

Some of the best known Indian startups include Ola Cabs, Snapdeal (e-commerce), OYO (hotels), Swiggy (food delivery), Big Basket (food e-commerce) and BYJU’s (ed tech).

Watch this space.

Can you trade with India without leaving home?

As Covid19 has made us all (Australia, UK, USA, Canada etc) more cautious, we are reluctant to travel.

Add to that a leap in Indian online e-commerce for all kinds of products and services.

Is the future of trade with India digital? Do relationships matter any more?

We have always said that the key to long term success with India is in the careful and gradual development of close working relationships. This has to be done face to face, but these days can be supported via phone and video calls.

Deakin University is the prime example of success through perseverance and relationship building – they have had a presence in India for over 25 years.

Ravneet Pawha has led Deakin in India for most of that time and she is now the Deputy Vice President – Global and CEO – South Asia. She knows everybody in decision making on education in India. Ravneet is a regular promoter of Australia and our education at conferences and in Indian media.

The Australian citrus industry is taking a closer look at India but their CEO has told members it could take five years to build a market.

So relationship still matters in dealing with India.

For our diplomacy, we need closer relationships at Indian central and state government levels.

For education, we need to follow the lead of Deakin University and be on the ground over there, building collaborative relationships.

And for products and services, while online is becoming the way of the future, products and services will only become trusted and valued as people have a relationship with your brand.

Australian PM Morrison has been gradually building a closer relationship with India PM Modi and this is producing some progress on agreements and cooperation.

Relationship – it is the way forward with India.

Abu Dhabi invests big time in India’s Jio

India has close economic and diplomatic ties in the Middle East. They just got stronger.

Abu Dhabi Investment Authority (ADIA) invested US$ 806.28 million in Jio Platforms, taking the total capital raised by its digital services subsidiary to around US$ 14.19 billion in just seven weeks.

The UAE is India’s third largest trading partner and more than three million Indians live in the Emirates.

So far, Jio Platforms has raised US$ 13.89 billion from seven marquee global investors.

ADIA, which is a globally diversified investment institution, invests funds on behalf of the government of Abu Dhabi through a strategy focused on long-term value creation. It has made several investments in India, mostly through its private equities department.

Jio Platforms is at the forefront of India’s digital revolution.

Jio, with 388 million users, combines all of RIL’s digital and telecom initiatives, including Jio digital services, mobile and broadband, apps, tech capabilities such as artificial intelligence, Big Data, and Internet of Things, and other investments such as in Den Networks, Hathway Cable, and Datacom.

Stop seeing India through the lens of someone else’s trade war

Things get a bit biased in the west, and right now China is seen by politicians as a negative – even if most western economies rely on China trade.

The mythology from politicians is that their country – including Australia – should look at “diversifying” trade targets away from China.

Thinking of India as an “alternative” to China is a bit disrespectful of India and setting up for failure. Seeing India for what it is – a really good opportunity but on a different scale to China – will lead to better commercial and political decisions.

Let’s not look at India through the lens of someone else’s “trade wars”.

When it comes to the world, China is the big game. India and Indonesia are also in the game and worth playing with, but each needs to be respected for what it is.

Take the 2017 Foreign Policy White Paper which reported that growth in demand through to 2030 from China would be greater than that from the US, Japan, India and Indonesia combined. China’s rapidly expanding middle-class market is the big market.

Even the Peter Varghese report on India’s potential showed that by 2035, Australia might export $45 billion of products and services to India. That would be great news! But compare that figure of $45 billion (and it’s 15 years off) with last year when Australia exported more than $160 billion to China.

When we remove the blinkers of politics, we can treat each country with respect and see the actual opportunity they represent.

We can open our eyes to a better view of trade – seeing it as part of the overall relationship of friendship with trading partners.