Local and non-local enterprises all optimistic about potential of India
India’s huge population and potential economic growth have attracted investments from foreign IT enterprises, such as Samsung, Netflix, and Oppo, while local large enterprise groups such as Tata and Reliance have been pushing for innovations across industries in India with increasing investments as well.
India, being the second-largest smartphone market in the world, is the cradle of smartphone innovation.
Tata Motors is test-piloting its super application Tata Neu among Tata employees and the app will be available for commercial use in a few months, according to Times of India. Reliance Industries, Paytm, SBI, and Adani Group also revealed similar plans.
Economic Times also believes the India market is large enough to allow the co-existence of at least 3-4 supper apps, citing analysis at Bank of America
Besides super apps, a survey conducted by CMR in 2020 showed that cameras are the most valued feature of a smartphone by 65% of the users in India. And 64% of them prefer the front-end camera more than the back-end one.
Having noticed such demand, China-based handset brand Oppo has set up a camera lab in Hyderabad, India to integrate AI technologies into picture-taking and design specific solutions to meet users’ demand for quality stills or live photos. Oneplus and Samsung also set up multiple innovation centers in India.
While 5G is still at the nascent stage in India, Reliance became the largest telecom operator in India and the second largest in the world within just 3-4 years by building up its businesses into the digital and communication industries.
The group later announced its plans to reach zero-carbon emissions by 2035 and will construct four giga-factories locally. It will also devote to the development of clean energy, including solar power, power storage batteries, and fuel cell batteries.
In line with the Indian government’s goal, Reliance’s clean energy business is expected to widely receive subsidies from the government. Company chairman Mukesh Ambani has said they aim to lower the production costs of green hydrogen power to US$1 per kilogram within 10 years.
In order to achieve that, Reliance will need to lower the costs of energy used to produce hydrogen power, making its new giga-factories an essential part of the project. With its long cultivation in India and support from the government, Reliance is expected to grow a strong presence in not only the local energy sector but also the domestic digital and communication sectors in the next ten years.