According to a study by McKinsey Global Institute, India is the second fastest digitising economy in the world. This economy has the potential to boost core sectors like digital communication, IT, and online retail. They also can help assist other industries such as agriculture, financial services, logistics and education.
Indians have accepted technology a lot faster than anyone expected to. India has recorded having 560 million connected internet users along with 12.3 billion mobile applications in 2018. The average Indian internet user spends 17 hours on social media platforms each week – which is more than the users in China and USA.
(Source: Economic Times)
The thing about India is that Internet is accessible to everyone, even in the poorest regions, and people with lower income are seen having access to mobile internet. With cheaper subscription plans and affordable mobile phones, these numbers are not surprising.
With the new mobile internet age, Indians also have access to education, healthcare and livelihood opportunities. There are several applications that allow people to connect with each other, for work, doctors, and so much more. This would not have been possible during the PC driven internet age.
This is not just about startups, but also ordinary citizens who are able to use technology to drive 30-40% change in business outcomes.
This digital economy is also expected to drive change in the nature of work. Around 60-65 million jobs could be because of the rise in productivity by 2025 in sectors like construction, manufacturing, agriculture, trade, hospitality, finance, media and of course, logistics.
ODeX is at the forefront of digitisation with several processes in the logistic sector that traditionally involved a lot of paperwork, is now being done online. With quicker payments online, BL tracking, and other communications done almost instantaneously, the shipping industry has indeed grasped technologies like ODeX to help them with their daily operations.