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Young India Ready To Replace China As Asia’s Growth Engine

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Young India Ready To Replace China,China As Asia Growth Engine,super power india,economic superpower of Asia,Startup Stories,Latest Business News 2017,Inspiration Stories 2017,Asia Growth Engine,India Replace China

Young India is set to replace China to become the growth engine of the Asian continent. India is ready to emerge as the economic superpower of Asia driven by the young population of the country.

According to multiple media reports, China’s biggest challenge at present is the rapidly aging population which will climb to more than half a billion by 2017. Meanwhile, India has the advantage of a younger population assisted by gains in foreign direct investments, technology, manufacturing and increased revenue. A detailed report by Deloitte LPP., states India will drive the third great wave of Asia’s growth following Japan and China, with the workforce increasing to 1.08 billion people from 885 million in the next 20 years. As per the report, India will account for more than half of the increase in Asia’s workforce who will be better trained, skilled and better educated than the existing populace.

However, this boom in the workforce will also require the right framework to sustain and promote growth and development. While India has seen some major developments in the economic sector this past couple of years, consistent government support along with a focus on educated women in the workforce and skilled labor is essential for sustained growth. In 2015, India overtook both China and America in terms of foreign direct investment with an inflow of $ 63 billion. Another great potential in India rising as a manufacturing hub is due to the availability of cheap labor while the labor costs in China continue to rise. At the same time, initiatives such as the Make In India program, Startup India hub, artificial intelligence task force, credit schemes and Agri Udaan schemes for agriculture based startups have only encouraged startups and improved domestic manufacturing of products. The GST rollout also gave startups the breathing room to develop and expand before having to pay taxes by leveling the tax field, increasing tax credit and simplifying the entire taxation process.

India’s fast emerging startup ecosystem although had a sluggish growth, made a name for itself in the global startup ecosystem as the 3rd fastest growing hub for startups. In 2017, multiple Indian startups caught the eye of Silicon Valley investors and incubators with more than 12 startups raising close to  $ 74 million through funding and acquisitions. The startup ecology also picked up momentum in the past few months due to numerous government initiatives, increase in the total number of investors and incubators, global interest and encouragement from industry veterans. India also became a pumping ground for multinationals based in Japan and China owing to the big unexplored Internet of Things industry.

Japanese and Chinese markets have already begun embracing the opportunities that arose from the aged populations in sectors including nursing, consumer goods for the elderly, age appropriate housing and social infrastructure. By 2050,  Asia will have to cope with over $ 1 billion people aged above 65 years. But, by then, India’s pool of tech talent coupled with low cost tech innovations, cheap labor, better governance, new initiatives and closer military ties with superpowers of the world will push the developing nation to become the economic growth driver of the continent.

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Quick Commerce Set to Boost HUL’s Revenue

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StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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Acevector Limited Announces New CEOs for Snapdeal and Stellaro Brands

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Acevector

Acevector Limited, the parent company of Snapdeal and Stellaro Brands, has announced significant leadership changes within its organization. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the role of CEO of Stellaro Brands.

Himanshu Chakrawarti to Lead Stellaro Brands

Himanshu Chakrawarti has successfully led both Snapdeal and Stellaro Brands for the past three years. In his new role, he will focus exclusively on driving growth at Stellaro Brands, which houses various apparel brands, including Rangita. Chakrawarti brings over 30 years of experience in the retail industry, having held leadership positions at notable companies such as Trent, Arvind, and the Landmark Group. His extensive background in brand building and retail operations will be instrumental in scaling Stellaro’s growth.

Strategic Focus

Chakrawarti’s shift to Stellaro Brands allows him to leverage his experience to enhance the brand’s market presence and operational efficiency. His leadership is expected to drive innovative strategies that align with consumer trends and preferences.

Achint Setia to Head Snapdeal

Achint Setia takes over as CEO of Snapdeal, bringing a wealth of experience in e-commerce, media, telecom, and government services. He has a proven track record in business building, marketing, strategy, and technology. Prior to joining Snapdeal, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held senior leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft.

Background and Expertise

Setia holds an MBA in Strategy & Finance from the Indian School of Business and completed the Stanford GSB LEAD program in Corporate Innovation. His diverse experience positions him well to lead Snapdeal through its next phase of growth as it navigates a competitive e-commerce landscape.

Focus on Growth and Innovation

These leadership changes are strategically aimed at driving growth and innovation across both Snapdeal and Stellaro Brands. With experienced leaders at the helm of each business, Acevector Limited is well-positioned for continued success in the dynamic Indian market.

Market Positioning

The transition comes at a critical time for Snapdeal as it seeks to strengthen its market position amid rising competition from other e-commerce platforms. Setia’s expertise in digital ecosystems is expected to enhance Snapdeal’s offerings and customer engagement strategies.

Recent Developments at Acevector Limited

Acevector Limited has been actively involved in restructuring its operations to optimize performance across its portfolio. The company has previously made headlines with initiatives such as:

  • The formalization of a group structure encompassing Snapdeal, Unicommerce, and Stellaro Brands.
  • Strategic investments aimed at enhancing technology capabilities and expanding service offerings.

Conclusion

The appointment of Achint Setia as CEO of Snapdeal and Himanshu Chakrawarti as CEO of Stellaro Brands marks a pivotal moment for Acevector Limited. These strategic leadership changes are designed to leverage their extensive industry experience to foster innovation and drive growth across both brands. As they embark on their new roles, the focus will be on enhancing operational efficiencies and adapting to evolving market demands within India’s competitive e-commerce sector.

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