Trends that Will Power a New India

In the first of our 30th Anniversary specials in August last year, we focussed on the theme “The Next India Opportunity”. Several of India’s biggest names wrote how the country’s time had come and how it could rightfully claim its place as the toast of the world. As we bring you this second, and final, volume of our 30th Anniversary special issues, we have chosen to take a close look at 15 of the top trends which would help power India to the global centre stage. The latest Economic Survey projects India’s GDP growth to stand at 9.2 per cent for FY22, and between 8 per cent and 8.5 per cent in FY23. The International Monetary Fund’s latest World Economic Outlook pegs India’s growth at 9 per cent in FY22 and FY23, and at 7.1 per cent in FY24. “This projects India as the fastest-growing major economy in the world in all these three years,” the Economic Survey says. All this suggests that, despite the pandemic and its impact, there will be enough firepower in the Indian economy for it to be a major global force.

As India turns 75, in this special issue, Business Today’s reporters bring you the 15 trends we think will help power the new India, the India of tomorrow. From the major changes taking place in Industry 4.0 and beyond which will transform manufacturing; rewiring supply chains and becoming increasingly self-reliant; using augmented reality to transform the business landscape; empowering MSMEs; pushing electric mobility and realising its climate change ambitions, these trends are what we believe will play a central role in defining the India of the future, an India which the world looks to with admiration.

An important part of these changes is the way we use technology, and the metaverse—the fascinating new world of immersive user experiences—will also be a game changer. A big evangelist of the metaverse is the new-look Facebook, which has been renamed to Meta to underscore that ambition. Meta’s iconic COO Sheryl Sandberg talks to us in detail about the company’s new direction and how important India will be in its plans. Meanwhile, with Finance Minister Nirmala Sitharaman’s Budget 2022 announcing a massive hike in public spending to push growth and jobs, the hope is that this expenditure push will create major multiplier effects across the economy. How this strategy plays out will be interesting to follow.

Finally, I would urge you to take a look at our selection of some of the best Business Today covers of the past 30 years. It is an unmissable journey down memory lane and one which will give you a snapshot of how far Indian business has travelled over the years.