India: A Pulsing Engine of the World Economy
Strategic Insights

India: A Pulsing Engine of the World Economy

Daniel Julien - 01.23.2020

In the last four decades, the world has changed drastically. The economy is rising at a staggering pace, and with the advent of digitization, what seemed impossible earlier is now not only possible but accessible to billions. This whirlwind is experienced by the world, but most evident in one nation: India. 

I have been visiting India for many years now, and every time, this country doesn’t fail to impress me with its willingness to grow, develop, and flourish. Among other things, the rapid rise of India is attributed to:

1.    The young demographic population who are

2.    digitally savvy and early adopters of innovative technology and

3.    a concerted focus on creating a gender-smart economy and country

India’s burgeoning youth are the world’s future

The entire world has its eyes glued on India’s steady development. A growing middle class and the demographic dividend have also fueled consumer spending. India’s software industry employs over four million people directly and 10 million indirectly. With 451 million monthly active internet users, India has the second-largest population of internet users in the world. 

One of the key reasons behind this accelerated development is India’s younger population. India is not just one of the world’s largest economies. It is one of the youngest too. Nearly one-third of India’s population is less than 15 years, and this demographic surplus is a boon for the Indian market. A young workforce means having more innovative minds that can better leverage technology, invent new products and services, increase efficiency, and positively impact the bottom line.  

Skyrocketing into a digital era

One of the most significant advantages of a younger demographic is its openness toward everything digital. Indians are not only adopters of digital technologies but also inventors of them. From booking a cab to making deliveries easier and even solving crime and ensuring environmental sustainability, India’s emerging tech startups are making their mark globally. From a Fintech giant, Paytm, to travel tech maverick, Oyo Rooms, the young entrepreneurs of India have nailed innovation and are leading the technological revolution on a global level.

Building a gender-smart nation

No economy can advance if 50% of its population is disconnected. An effort to increase gender parity and talking about it has helped the world notice and recognize the marvels that Indian women are bringing about on a global level. This, in turn, is bridging the gender divide and enabling both men and women to realize that there is no weaker gender. During my time in India, I was awestruck by the education level, energy, professionalism, and passion of our TP Women. 

In a matter of five days, I experienced culture, food, weather, and also the quality of air in four different cities. India’s 29 states are drastically different from each other, but what holds them together are the people of India. India brings to the table an exceptional set of strengths: a soaring economy, demographic dividend, women power, a flourishing private sector, and innovative entrepreneurs. Through all this and more, India is breaking new grounds and taking the winning leap. 

India is the clear front-runner of this race; that’s why multinational conglomerates and Fortune 500 companies are eyeing investment opportunities in the country and are merging and acquiring India-based firms to increase their footprint.

For Teleperformance, India is the most extensive employee base, with over 75,000 employees across 14 cities. The Indian market is growing, and we are growing with it. After acquiring Intelenet, we have tripled our scale in India, boosted our digital offerings, and forayed into new lines of businesses. We will potentially double our headcounts in the next few years and collaborate with new firms that have innovative capabilities on offer. 

India is where the future is, and Teleperformance is investing and shaping it as we speak. 

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