It may sound strange to hear that the second most populous nation in the world currently has just 10 percent of its people with an active online presence. However, studies show that by 2015 our country may become the second largest market in the statistics of people using the internet.
This huge expansion will give the national citizens an opportunity to boost its GDP substantially, to raise the usage even beyond the predicted projection, and to bring a complete transformation in the country’s online profile.
Analysis shows that within the next three years, several factors will help our country in contributing a modest share to the GDP. These will include the rapidly converging online behavior of our citizens with that of the developed country users, and a well-established export base in information technology (IT) and communication.
Our country’s internet contribution to its national GDP and market capitalization could almost triple, if our expenditures on the same could reach a value comparable to that of the developed economies. Well, how strong this prediction may sound, but still the country faces many challenges to prepare itself for an advancing upraise in the dot com adoption.
For establishing certain precondition for bringing about this internet transformation into a more dynamic growth engine, the Indian company stakeholders need to work together upon some of the following primary initiatives:
- Making online access and usage more affordable for the public to use
- Encouraging large scale e-learning and digital literacy for promoting increased user engagement
- Extend the online infrastructure to rural and semi-urban parts of India. This will be moving beyond the tier-one cities.
- By introducing online apps in all parts of the country including futuristic areas such as healthcare, education, energy, agriculture, and public utility services
- By creating friendly and encouraging environment for e-business. Doing this will lead to encouraging establishment of start-up companies, and scaling of existing companies to new heights.
The list of initiatives for growth is endless, but more important thing is to put the same into practice and make them succeed. To do so, three stakeholders groups must work together in collaboration. These include the policy makers, the private companies in the Indian markets, and the entrepreneurial sector.
The first group, responsible for making policies, will set the legal framework and its course. The next sector includes the private enterprises, will assist in improving the overall online infrastructure. Analysis of the result reports of listed Indian Companies will assist the market analysts in investment decision making. The last category including the entrepreneurs will be responsible for delivering the products and services for increasing our internet usage.