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Hello, I Priyanka Salve, Senior CNBC correspondent by India, writing from Singapore. This week, I look at how the thriving digital ecosystem of India attracts investments from large technology companies – a digital user base and talents in the country play a key role.
India – 2125/05/13: This photo illustration meta -bygotype is displayed on a Google logo on the background.
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This report provides the newspaper CNBC “Inside India”. How is what you see? You can subscribe Here.
A great story
When Rinchen Wangdi Boyty in 2016 moved from the Holly North -Eastern Indian state in Calcutta, one of the country’s subway cities, he was just a face in the crowd.
Buity threw his corporate life and started cloudy cuisine in 2023. A year later, he began to post short videos about his simple home dishes. Strangers turned to followers and views on food orders. Success followed.
Today, it manages two restaurants specializing in dumplings in Kolkata. He has more than half a million followers, and his drums regularly have a million views.
According to Statista, the country has the largest number of users on social media platforms such as Facebook (350 million), Instagram (413.8 million) and video application (more than 467 million). App for messaging WhatsApp justify India has over 500 million users.
Openai Chief Executive Director Sam Altman said in February that India-second-in-the-value market market.
Buduta is part of the history of digital growth of India, which creates entrepreneurs, attracts investment and attracting global technological giants, which are heavily fueled by a giant talent and technological base.
“India is a big key talents center – from chips to II design, so technology companies want to invest and find there to take advantage of a key resource,” said Bhaskar Chakvaty, Dean of Global Fletcher School, Tafs University.
Between 2023 and 2025 Amazon, Google, Microsoft, Meta, Apple and their peers spent tens of billions in India.
On Monday, Bloomberg reported that the Chatgpt Openai manufacturer is looking for local partners to build a data center in India at least 1-gig-power. This happens only one week after the company launched his cheapest subscription planAt the cost of 399 rupees ($ 4.57) per month, in India.
“The acquisition of users in the Western markets is a plateau, while, on the contrary, India offers demographic bucking users who for the first time and the talent reservoir that can create, test and repeat the scale,” says Vivek Agarwal, director of the Global Country.
Google and Meta Friday announced new partnerships Reliance Industries As the Indian conglomerate seeks to accelerate its push into artificial intelligence.
“We are pleased to put the II in the hands of more people and businesses so that they can do extraordinary things,” said Google Sundar Pichai, adding that India live “some of the most dynamic enterprises in the world, a thriving start-up ecosystem and an incredible amount of creativity and ambition.”
A study conducted by the University of Tufts ranks eighth among 125 countries according to the digital evolution index. Index is an estimate of the digital economy progress over the sixteen-year period (2008-2023).
Demonstrate Digital Growth-ONE ON IN India Payment Interface or Upi, which authorities in India operating in India a million transactions every day. It happened only nine years ago. Google Pay and Walmart owned by Walmart using UPI infrastructure are some of the dominant According to the National Corporation of India’s payments, payments in India.
Numbers against growth
WhatsApp meta-equality, which also provides payment services, fights for a breakthrough in hyper-containing digital payments, despite the fact that messaging is more than 500 million users.
“The scale on the paper is not equal in practice,” said Sanchit Gogi, Chief Analyst and CEO of Hreehound Research.
Meta even purchased 9.9% of Jio Platform, Reliance Industries “ARM, in 2020, for $ 5.7 billion.” Combining Jiomart, Jio’s Small Business Initiative with WhatsApp’s power, we can allow people to contact businesses, make purchases and ultimately buy products in the final said meta by announcing a deal.
A strong local partner in Jio, who has a telecommunications base over 500 million, failed to help Meta to force WhatsApp to pay success in India. “Jiomart’s integration disappeared, partly because Reliance Retail has decreased as fast as promised,” Gogi says.
NPCI data for July indicate that WhatsApp was only 74 million transactions compared to nearly 7 billion Google Pay operations.
But this did not prevent us, the technical specialties to invest more in India, including Meta.
“India is becoming provoked by the soil where Big Tech long-term rates begin to get visible dividends,” Agarwal said.
The Indian talent pool also led to large foreign corporations that created their world centers in the country. According to data American company GCC Consultancy Ansr.
These centers offer additional incentives for technology companies looking for business customers. GCC growth in India makes it “a great place to deploy technological applications and a wide range of MNCs from India,” Chakwatta Tuffs said.
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The BDO India partner is indirect taxes, Maulik Manakiwala, says the latest GST bet will provide consumer costs and make profits for large tickets purchases.
Polka Mishra with the richness management of Javelin says the direction of traveling in the world trade departs from the United States, it also sees an increasing corporate partnership between China and India.
Neil Shah, Vice-President of Research and Co-founder ControdPoint Research, discusses India’s ambitions in the semiconductor industry and development in Semicon India 2025.
Need to know
Tax overhaul. Moving the Indian government on Wednesday to official Reduce the tax on goods and services It is expected that in various subjects will push consumption and facilitate the impact of tariffs in the US.
Elephant tango. Indian Prime Minister Narendra Modi met Chinese President Xi Jinping at the 5th Society Summit in Shanghai, Cooperation Summit, Cooperation Summit signaling the improvement of connections.
Economics with Tarbonadwow. The economy of India grew faster than expected The annual rate of 7.8% in the quarter by the end of June, which is enhanced by the sectors of production, construction and service.
– Vinay dwivedi
Quote of the week
We are very convinced that non-banquet financial companies, both on lending and lending … We are more positive about non-standard, non-false, financial companies, and there we believe that a huge alpha can be created over the next three to five years, as penetration is deepened and house.
– Gautu Daggad. Director and Head of Studies Motilal Oswal Financial Services
In the markets
India Nifty 50 The index closed slightly higher than 24 734, giving up most of its 1% profits throughout the day at the back of the overhaul in the tax and service tax. This year the index received 4.6%.
A 10-year government bond with a 10-year bond has dropped to 6.5%.
Applicable
September 5: Data on foreign exchange reserves
Each weekdays of CNBC news “Inside India” gives you news and comments to the market to new power plants and people behind its growth. Live the show on YouTube and Lave Highlics there.
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