If India keeps growing a lot of wealth will be created. While existing companies public and private will definitely contribute I think companies that are just starting out will play a major role. Sectors like IT outsourcing and BPO were not major a decade ago. What will the next decade bring ?
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I am in favor of India’s transformation from “Industrial Age Economy” to “Knowledge Economy” and am optimistic about its accomplishment in the next few decades and compare the same with the Gold Rush of America (during late 1800).
To my view in the next decade:
– India’s initial noticeable growth may probably happed due to 100% FDI in certain sectors, followed by it’s strong position in areas like software, BPO, biotechnology etc.
– Standard of living will improve
– E-Governance will gain ground
I anticipate robotics to be the major industry focus and driving force after 10-15 years.
Given the amount of resources available locally combined with the available opportunities; there’s a lot of grey area that an entrepreneur can leverage on. Talking about IT; we may notice enterprises as big as google oozing out of India and addressing the global consumer base. There are enough great minds working on innovative concepts/ideas; they have seen the boom and the burst, they understand business and technology, they have access to funds, they have the best mentors guiding them, they are well networked, they know the best business practices thus they are ought to come with their products/services and are expected to make their presence felt in the next decade.
well, another area that will boom as a result of wealth creation is the domestic consumer industry, all that money has to go somewhere (besides savings)
Good question!
I’d imagine that India is transforming from an industrial age economy to a knowledge economy. Thus, the immediate opportunities would be in sectors that supply industry. (education, real estate, capital manufacturing)
One thing I have reservations about is how long it will take for the India to complete this transformation.
I’m really gonna think about this. Good question.