{"id":152156,"date":"2023-08-11T17:48:42","date_gmt":"2023-08-11T13:48:42","guid":{"rendered":"https:\/\/forbes.ge\/?p=152156"},"modified":"2023-08-15T17:55:29","modified_gmt":"2023-08-15T13:55:29","slug":"why-everyone-should-pay-more-attention-to-india","status":"publish","type":"post","link":"https:\/\/dev.forbes.ge\/en\/why-everyone-should-pay-more-attention-to-india\/","title":{"rendered":"Why Everyone Should Pay More Attention to India"},"content":{"rendered":"

As a frequent visitor and fellow developing country native, I will walk you through why you should be paying more attention to this colossus stretching from the Himalayas to the tropics. It\u2019s simple arithmetic \u2013 if humanity is to flourish on this planet, India\u2019s rise has to happen. So, let\u2019s welcome it. This is the story of India, from conquering the internet to giving money to a beggar with a QR code. Trust me, it\u2019s a journey worth taking, even if only on paper for now.<\/span><\/p>\n

\u201cINDIA, WHO?\u201d<\/b><\/h5>\n

Think about this \u2013 Mumbai (600km2 ) is smaller than Tbilisi (700km2 ). How many people do you think live there? 23 million! Yes, more people live in one neighborhood of Mumbai than in the whole of Georgia. It isn\u2019t easy to comprehend the sheer scale of this country, especially for such a tiny nation as ours. But despite that, there\u2019s something relatable to where India is right now.<\/span><\/p>\n

We, Georgians, have been here before. We\u2019ve lived through all this, the corruption, the chaos, the uncertainty. We have gone from utter disorder to an organized and regulated state in what? Like half a decade? We\u2019ve seen the change happen really fast, and however impossible it might seem right now, we know it CAN happen. Now I understand what foreigners feel when they come to Georgia and talk about our potential because they see us as we could be. I feel something similar when I am in India. Let\u2019s see if I can make it resonate with you too.<\/span><\/p>\n

I\u2019ve made the trip to India enough times to see it upend its old cliches. Yes, it\u2019s still a kaleidoscope of colors, spices, and a serpentine dance of chaos and charm, but those who stop at that miss the point \u2013 like enjoying khinkali only for its dough and forgetting about the broth inside.<\/span><\/p>\n

It\u2019s not about the outsourced call centers anymore, nor about Bollywood. Today, India is much more than that. It is an emerging superpower. And here\u2019s the punchline: it\u2019s young, unbelievably so. Imagine a country where over half of its 1.4 billion people are under 25. Imagine the vibrancy, the ambition, the sheer potential. You\u2019re getting the idea.<\/span><\/p>\n

A HUGE DEMOGRAPHIC DIVIDEND<\/b><\/h5>\n

Picture this, a whopping 650 million people, almost 200 times the entire population of Georgia, all under 25! It\u2019s as if the whole of Europe decided to transform into youngsters overnight. Globally, one in five people below 25 is from India. 47% of Indians, about 650 million people, are under 25. And the number is growing. India\u2019s population will peak in 2065. Compare this with China, where the population will peak next year.<\/span><\/p>\n

Population, including UN projections, 1800 to 2100<\/b><\/p>\n

\"\"
Future projections are based on the UN\u2019s medium-fertility scenario<\/figcaption><\/figure>\n

The sheer volume of this demographic is shaking things up in ways we cannot ignore. And this isn\u2019t just about a numbers game, folks. It\u2019s about how these young Indians who are forging a path forward that\u2019s got me \u2013 and should get you \u2013 buzzing with curiosity. This group of young Indians has some unique characteristics. They were born with a smartphone in their hands and an internet connection. No matter which social class you belong to, a smartphone is in the hands of every Indian. And they have lived in an India that has averaged about six percent annual growth for three decades. These young Indians are tech-savvy. They have access to global goods and content and want and expect to compete with the world.<\/span><\/p>\n

FUELING INDIA\u2019S TECH REVOLUTION<\/b><\/h5>\n

While a young nation is a necessary fuel for growth, it\u2019s not enough; you also need an engine. You see, back when we Georgians were trying to make sense of the post-Soviet reality, India was wrestling with its own challenge: connecting a vast, diverse population. From Himalayan valleys to coastal fishing villages, connectivity was more than just a tech problem \u2013 it was a national growth concern. Here\u2019s where the government stepped in, pushing tech initiatives to foster connectivity. The \u201cDigital India\u201d campaign launched in 2015 aimed to make government services available electronically and incentivize digital literacy in the process. The introduction of Aadhaar, a 12-digit unique identity number based on biometric and demographic data, further expedited digital adoption.<\/span><\/p>\n

Meanwhile, private players also stepped in. Companies like Jio stormed the telecom scene. Once considered a luxury, the internet and smartphones are now as vital as chai in India. The country boasts around 700+ million internet users in 2023 and just under 800 million smartphone users. These handheld connectivity portals are bridging the rural-urban divide, making tech accessible to everyone. But it doesn\u2019t end there.<\/span><\/p>\n

Rising Retail Payments through Digital Wallets<\/b><\/p>\n

\"\"
The Unified Payments Interface has expanded rapidly. Source: National Payments Corporation of India<\/figcaption><\/figure>\n

Can you imagine shopping at Deserter\u2019s Bazaar in Tbilisi and paying for bananas with a QR code? Or beggars with a QR code sitting next to them for you to scan and transfer them money? Well, this is what Indians call UPI. A United Payments Interface is a real-time payment system allowing multiple bank accounts into a single mobile application. It addressed India\u2019s complicated relationship with cash transactions, simplifying payments like never before. Suddenly, Ram from rural Rajasthan could make an online transaction as easily as Rahim from urban Mumbai. Like we skipped cheques in Georgia, Indians are not using debit cards.<\/span><\/p>\n

And the startup scene is going nuts. I have walked Bangalore\u2019s chaotic yet vibrant streets, also dubbed India\u2019s Silicon Valley, and let me tell you the energy is entrepreneurial! You\u2019ve got startups popping up left and right. Foreign VC and PE funds flowing to Indian startups have been increasing, and it launched the era of unicorns in India. Today, India is home to 108 unicorns with a total valuation of $340.80 Bn. In 2021 it produced 43 unicorns, that\u2019s one every nine days. These startups are not just shaking up the local market but are also earning global recognition. Companies like Zomato, Byju\u2019s, and Ola have expanded their services beyond India, going toe-to-toe with international giants. From fintech to agritech, these startups are not only providing solutions; they are creating opportunities.<\/span><\/p>\n

Number of people using the Internet<\/b><\/p>\n

\"\"
Number of people who used the Internet in the last three months. \/ Source: OWID based on International Telecommunication Union (via World Bank) and UN (2022) OurWorldInData.org\/internet \u2022 CC BY<\/figcaption><\/figure>\n

Take the e-commerce scene, for example. India\u2019s e-commerce market is predicted to be worth around $200 billion by 2025. It\u2019s transforming retail, pushing businesses to evolve. My trips to the crowded bazaars of Bangalore now include online price comparisons, thanks to ONDC.<\/span><\/p>\n

Tip: Don\u2019t even think about buying ANYTHING in India that doesn\u2019t have an MRP (maximum retail price) on the packaging. Without it, there\u2019s a good chance a seller is selling at a 200% markup.<\/span><\/i><\/span><\/p>\n

Smartphone usage spiked, e-commerce flourished, and startups found fertile ground to grow. And who is the leading player in all this? This is very strange for Georgian ears, but it\u2019s the Indian government.<\/span><\/p>\n

A POLITICAL ROLLERCOASTER FROM GANDHI TO MODI<\/b><\/h5>\n

Georgians cannot relate to this. The PM of India has a towering 75% approval rating. Meanwhile, our country is being run by a party with a meagre 31% approval rating. Seeing the government ACTUALLY driving the country\u2019s growth is also foreign to us. The Indian government is not just keeping pace with the tech revolution; it\u2019s leading it. But it\u2019s not all sunshine and roses.<\/span><\/p>\n

India\u2019s political scene is a rollercoaster \u2013 from Gandhi to Modi. With his spectacles and homespun cloth, Mahatma Gandhi championed nonviolent resistance and led India to independence. The Gandhian era was one of nation-building, where unity and brotherhood were not just ideals but necessary for survival.<\/span><\/p>\n

Fast-forward to today, Prime Minister Narendra Modi is at the helm. A far cry from the modest Gandhian simplicity, Modi embodies the ambition and dynamism of a new India with his meticulously trimmed beard and penchant for designer attire. He\u2019s ushered in an era of bold economic reforms and aggressive global outreach, positioning India as a key player on the global stage. At the same time, it\u2019s true that Modi\u2019s government has been accused of increasing authoritarianism, stifling dissent, and promoting policies that discriminate against religious minorities, particularly Muslims. But that\u2019s a discussion for another time.<\/span><\/p>\n

Poverty in retreat in India<\/b><\/p>\n

\"\"
Nigeria recently eclipsed India as the country where the largest number of people are living in extreme poverty. The gap is set to widen.<\/figcaption><\/figure>\n

What\u2019s more pressing for this article is that we address the elephant in the room \u2013 poverty. This was the number one thing the rest of the world associated with India. India is no longer home to the world\u2019s largest number of poor people (it is Nigeria now). The number of people living in extreme poverty in India is falling:<\/span><\/p>\n

India, with a population of 1.4 billion people, currently has 3% of its population living in extreme poverty, according to the World Poverty Clock. Don\u2019t get me wrong; poverty is still the biggest problem in India. We, with our comfortable lives in Tbilisi, cannot fathom how poor people live in India. I had a major cultural shock when I first saw it. However, India is no longer the epitome of poverty. It\u2019s a \u201clower middle income\u201d country now, thanks to its 7-9% annual economic growth.<\/span><\/p>\n

We might be standing on the cusp of what many would call \u2018The Indian Century\u2019. An era where India isn\u2019t just catching up with the world; it is sprinting ahead, ready to set the pace \u2013 a period where the land of spices and spirituality is also the land of silicon chips and satellites. So, for us Georgians, as we navigate our own journey of growth and transformation, India is not just an inspiration; it\u2019s a roadmap. It\u2019s a story we need to read, reread, and pay close attention to.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As a frequent visitor and fellow developing country native, I will walk you through why you should be paying more attention to this colossus stretching from the Himalayas to the tropics. It\u2019s simple arithmetic \u2013 if humanity is to flourish on this planet, India\u2019s rise has to happen. So, let\u2019s welcome it. This is the […]<\/p>\n","protected":false},"author":675,"featured_media":152157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1786,1770,1768],"tags":[],"class_list":["post-152156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biznesi-en","category-op-ed","category-opinions","has-thumb"],"yoast_head":"\nWhy Everyone Should Pay More Attention to India • Forbes Georgia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.forbes.ge\/en\/why-everyone-should-pay-more-attention-to-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Everyone Should Pay More Attention to India • Forbes Georgia\" \/>\n<meta property=\"og:description\" content=\"As a frequent visitor and fellow developing country native, I will walk you through why you should be paying more attention to this colossus stretching from the Himalayas to the tropics. 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