India is strategically positioned to develop a robust domestic semiconductor ecosystem, driven by increasing electronics consumption, strong government support through incentives, and a global shift in supply chains. Boston Consulting Group Managing Director Ankush Wadhera highlights India's potential as a safe haven for investments, with the AI boom further fuelling demand for advanced chips. The nation aims to expand its capabilities across the entire semiconductor value chain, attracting significant global and domestic investments.
A new report by FICCI, BCG, and IBA outlines that India's banking sector must grow significantly faster than nominal GDP to support a USD 30 trillion economy by 2047, requiring banking assets of USD 45 trillion. The report highlights the sector's current strength, challenges in digitisation, and the need to enhance resilience against fraud and cyber threats, proposing a 13-point agenda for stakeholders.
India now ranks among the world's top three destinations for both AI and STEM talent, holding roughly a 6 per cent share of globally mobile AI talent and a 7 per cent share of STEM talent.
'GenZ today is close to 45 to 50 per cent of the overall shopping journeys in the country. They are also very content-first in terms of entertainment or otherwise, general gratification of content and discovery.'
Adoption of Artificial Intelligence (AI) in India's 64 million Micro, Small and Medium Enterprises (MSMEs) alone could unlock over $500 billion in economic value, but the country must pivot from an "adopt-first" to an "invent-first" mindset to realise this potential, according to a new report.
API Holdings, the parent company of online pharmacy PharmEasy, has significantly reduced its debt from 1,800 crore to 1,050 crore and refinanced it at lower interest rates under CEO Rahul Guha, shifting its focus from 'growth at any cost' to profitability and aiming for a debt-free balance sheet before a potential stock market listing.
The Indian AI market is expected to grow to over $17 billion by 2027, more than tripling its current size, driven by increased investments in enterprise technology, a flourishing digital ecosystem, and a strong pool of skilled professionals, according to BCG.
State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy. The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India).
...followed by financial services, IT, and sales and marketing.
Nearly 7 out of every 10 P2M UPI transactions take place in high frequency categories like groceries, restaurants, pharmacies, fuel service stations, bakeries and utility services such as electricity, gas, water and sanitation.
Streamlining enterprise data, having an AI policy, reskilling people, and cultural transformation have been cited by experts as key.
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
Payments and banking transactions through mobile phones in India are expected to touch $350 billion (Rs 1,560 crore) by 2015, according to The Boston Consulting Group (BCG), a global management consulting firm.
India has emerged among the four fastest wealth creator countries in the world and its growth momentum is expected to gather further steam going forward, a global study has said.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
'...as then it brings them closer to the complaints and grievances that the public faces.'
In a recent report published by the Confederation of Indian Industry and the Boston Consulting Group, has estimated India would face 'talent gap'-- the lack of right skills for the job required -- of more than 5 million by 2012, as existing educational institutions do not impart employable skills. The report titled, 'India's demographic dilemma' brings out the fact the $1.1-trillion economy will have a shortfall of 750,000 skilled workers over the next five years.
Names like Ambanis and Mittals making to global rich lists every now and then notwithstanding, India accounts for just about one per cent of the worldwide wealth market of over $100 trillion.
The consumer markets of India and China would together be worth $10 trillion by 2020, according to The $10 Trillion Prize, a book by Boston Consulting Group (BCG).
The country jumped two notches from 17th in 2008 to 15th in 2013.
The number of millionaire households in India jumped nearly 21 per cent.
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
A senior bank official said the preliminary report would come in three months.
India needs to create 220 million jobs in the next 15 years and this is only possible by implementing the National Manufacturing Policy, launched recently by the government, says Arindam Bhattacharya, managing director, The Boston Consulting Group (BCG) India Pvt Ltd.
Indian Internet economy represents 4.1 per cent of the gross domestic product.
In a study titled Internet's New Billion, the Boston Consulting Group said Brazil, Russia, India, China and Indonesia will have more than 1.2 billion Internet users by 2015 -- well over three times the number of Internet users in Japan and the US combined. In 2009, the BRICI countries had some 610 million Internet users.
As many as 20 Indian companies have been identified, in a list of 100 firms from emerging markets in a report of 'BCG Global Challengers 2011', as businesses that can challenge existing Fortune 500 firms over the next five years.
The resurgence in confidence in Indian manufacturing was borne out by many examples of Indian companies going global.
Global private financial wealth grew by 1.9 per cent in 2011.
India has the potential to generate 30 million jobs on incremental basis in outsourcing business by 2020, Boston Consulting Group vice-president and director K James Abraham said in Kolkata on Tuesday.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
Twenty Indian firms are among the 100 'global challengers' that are not only reshaping their respective industries but are also outpacing established players from the West, according to the Boston Consulting Group.
He will take the place of Subir Gokarn, who was in-charge of the monetary policy department, has retired.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
Despite high inflation and interest rates, number of Indians wanting to buy expensive products within the same category, called trading up in retail parlance, is among the highest in the world, says a new study.
In a significant report, an influential consultancy firm has warned American companies that either they outsource more work to India, including high-powered functions like research and development, or face extinction.
Indian and Chinese households are going to spend $10 trillion per year by 2020, say Michael Silverstein and Abheek Singhi.
Getting to the magic growth, however, will require massive increase in investment in infrastructure, in labour force skills and manufacturing capacity.
