It took just 25 years for IT to become pervasive in India. The proliferation of mobile phones, reduction on duties for components, coupled with the Government of India’s Digital India and Make in India policies, have been the main drivers of this growth.
Mid-way through the year, something unexpected happened with Uber – the largest startup in terms of valuation. It gave up in the world’s most populous country. In an apparent move to stop a bloodbath in terms of losses, US-based Uber Technologies Inc, co- founded by Travis Kalanick, agreed to sell its China business to home grown rival Didi Chuxing. That made India, the second biggest market for Uber after the US the focal point. It was the biggest highlight for Uber in India in year 2016.
As a part of its commitment to invest $5 billion in India, Amazon on Tuesday launched its first set of India data centres in Mumbai to cater to cloud computing services here unleashing a new race for the top cloud provider position in India.
Manufacturing is largely challenged by stringent Indian labor laws that curb the fluid functioning of the industry. Archaic policies such as the Contract Labor Act & Minimum Wages Act need to be done away with.