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TECH BYTES – Monthly Tech Industry Bulletin – January 2021

This monthly industry bulletin is our endeavor to aggregate and feature on a regular basis, key trends and insights shaping the technology sector. The information covered here is collated from publicly available sources and gives a bird’s eye view of what has happened in the technology sector during a particular month.

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Key Findings

  • While India’s GDP will degrow lesser, by 7.7%, in FY2020-21 (compared to an earlier estimate exceeding -10% YoY), the digital transformation narrative has got significant push as the Tech industry reports growth in sequential digital revenue growth in 3Q21 at 11.3%* and share of digital in overall revenues at 46.9%
  • In the 2020 World Digital Competitiveness ranking, India slipped 4 positions from its 44th rank in 2019
    • 39th in Knowledge Readiness (talent, training & education, and scientific concentration)
    • 50th in Technology Readiness (regulatory framework, invested capital, and technological framework), and
    • 56th in Future Readiness (adaptive attitude, business agility, and IT integration)
  • The factors that went up in 2020, vis-à-vis, 2019, were on readiness of regulatory framework, technological framework, and IT integration capabilities.
    • India’s easing of regulatory frameworks applied to Development and Application of Tech. has bettered and reflects in the growing number of technology start-ups, DeepTech start-ups in particular.
  • Public-private partnerships is another area where India improved its ranking, and the potential to create joint digital transformation opportunities in the year ahead, are more promising with government becoming active in 2020.

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