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Expanding Digital Access

As India puts the worst of covid-19 behind it, the third edition of Economist Impact’s India Business Digital Barometer, fielded in October 2021, shows sentiment among Indian corporate leaders about the prospects of the Indian economy and their businesses has improved markedly. In this time, some challenges, such as acquiring and retaining talent, have intensified. It is one area Indian businesses are looking to expand investment in over the next three months. Improving digital capabilities is now top of the agenda for Indian business leaders, and they acknowledge this cannot happen in a vacuum, which means Indian companies are looking to do their part to enhance people’s and organisations’ access to digital information and technology.

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Digital Ecosystems

As India recovers from the second-wave contraction, the second edition of Economist Impact’s India Business Digital Barometer, fielded in August 2021, shows that near-term confidence in the Indian economy is overwhelmingly positive, although optimism around global economic prospects has declined.

Indian business leaders are looking to build their firms’ digital capabilities in order to drive transformation and ensure competitiveness. They are mindful of the role of technology entrepreneurs and start-ups in doing so, and are looking to play an active part in shaping the digital ecosystem to foster innovation.

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The Digital Imperative

In 2020, India’s economy was the second-worst performer among major global economies. The first edition of Economist Impact’s India Business Digital Barometer, fielded in June 2021, shows that near-term confidence is still slightly negative for the Indian economy.

Yet Indian business leaders are bullish about recovery and growth, partly due to the accelerated development of their digital capabilities which lie at the heart of their growth strategies.

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India Business Barometer

Economist Impact developed the India Business Digital Barometer to understand and track covid-19’s effects on businesses in India. Based on a survey of c-suite executives in India, the third barometer readings show that Indian leaders are even more bullish about their prospects and the health of the economy than they were two months ago. They are also cognisant of their role in enhancing people’s and organisations’ access to digital information and technology.

  • Barometer
  • Challenges
  • Priorities
  • INVESTMENTS
  • A - INDIA ECONOMY

  • B - GLOBAL ECONOMY

  • C - YOUR COMPANY

  • D - EMPLOYEE WELLBEING AND MORALE

  • E - CONSUMER CONFIDENCE

  • F - YOUR INDUSTRY

SORT BY
  • Low - High
  • High - Low
  • Alphabetical

Some challenges have intensified in this period, including acquiring and retaining talent, driving digital transformation and protecting against cyber attacks.

  • A - MANAGING POLITICAL/REGULATORY RISK

  • B - PROTECTING AGAINST CYBER ATTACKS

  • C - COMPLYING WITH DATA PRIVACY RULES

  • D - KEEPING EMPLOYEES SAFE AND HEALTHY

  • E - DRIVING THROUGH DIGITAL TRANSFORMATION

  • F - NAVIGATING MARKET UNCERTAINTY DUE TO COVID-19

  • G - ACQUIRING/RETAINING TALENT NEEDED FOR THE BUSINESS

  • H - ENSURING TEAM COHESION AMID REMOTE/HYBRID WORKING

  • I - ENSURING SUPPLY CHAIN STABILITY

  • J - SECURING FINANCING FOR MAJOR BUSINESS INITIATIVES

SORT BY
  • Low - High
  • High - Low
  • Alphabetical

Data analytics, cyber-security and migration to cloud are priorities for even more Indian business leaders than three months ago.

  • A - MOBILE/REMOTE WORKING

  • B - MIGRATION TO CLOUD

  • C - CYBER-SECURITY

  • D - DIGITAL PAYMENTS

  • E - DATA ANALYTICS

  • F - ARTIFICIAL INTELLIGENCE (AI) AND MACHINE LEARNING

  • G - ROBOTIC PROCESS AUTOMATION (RPA)

  • H - INTERNET OF THINGS (IOT)

  • I - MACHINE AUTOMATION (PHYSICAL ROBOTS)

  • J - WEBSITE OPTIMISATION

As the dust around covid-19 begins to settle somewhat, Indian companies are seeking to prioritise investment in the acquisition of talent, the adoption of cloud services and the use of artificial intelligence and machine learning. But entry into new markets still remains less of a priority for Indian corporate leaders.

  • A - ACQUISITION OF TALENT

  • B - AUTOMATION

  • C - ADOPTION OF CLOUD-BASED SERVICES

  • D - USE OF AI AND MACHINE LEARNING

  • E - DIGITAL MARKETING

  • F - INNOVATION/R&D

  • G - ENTRY INTO NEW MARKETS

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Now for Next Podcast #3: Access to information and technology

As the Indian economy recovers from the effects of the pandemic, Indian business leaders are mindful of their responsibility in improving people’s and organisations’ access to digital information and technology in a future that will be increasingly digital.
This podcast discussion between an editor from The Economist and selected Indian business leaders provides insights on barriers to enhanced access to information and technology in India, and how Indian companies are looking to improve digital access and bridge digital divides.

Now for Next Podcast #2: Fostering a digital ecosystem

As Indian business leaders focus on digital transformation, they are supporting the growth of startups and small businesses to help cultivate a culture of innovation in the digital ecosystem, resulting in benefits to all stakeholders.

This podcast discussion between an editor from The Economist and selected business leaders in India, provides insights into the importance of a strong digital ecosystem in India, the role of businesses in fostering one, the challenges faced by startups and companies’ motivations in supporting them.

Now for Next Podcast #1: The digital imperative in India

As Indian business leaders navigate the disruption and turmoil brought by covid-19, they are confidently plotting a course for expansion and investing accordingly.

This podcast discussion between an editor from The Economist and selected business leaders in India, provides insight into the strategies they are employing to navigate the recovery and the extent to which they are accelerating the development of their digital capabilities.

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Where do you fit in: The proliferation of the tech start - up ecosystem

ONLINE WEBINAR

The second webinar in the Now for Next Leaders Dialogue series opened with an exclusive interview with Kotak Mahindra Bank’s Managing director and CEO, Uday Kotak. The following panel discussion, moderated by Economist Impact, saw experts from Nestlé India, Shopclues and Google India share how they are supporting technology start-ups; the challenges they face when trying to do so; how they have overcome these and what the chief benefits are that businesses can obtain from actively supporting and nurturing these ecosystem players. Now available to watch on-demand.

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Balancing tech-celeration and the bottom-line

ONLINE WEBINAR

During this first in a series of high-level meetings, watch 4 expert business leaders explore the findings of a survey of c-suite executives in India and reflect on how they define a good investment in technology. Now available to watch on-demand.

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New ad opportunities arise with demand for connected TV in Asia

CONTENT FROM google

Combining the best aspects of digital video and television, connected TV is the latest force you can’t ignore.

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Bridging the online-offline gap: How 3 brands are winning customers in India

CONTENT FROM google

They go from researching items online to buying them in-store without missing a beat, and they expect retailers to provide a seamless online-to-offline customer experience.

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The psychology of consumer behavior: Habits that are set to stick post-pandemic

CONTENT FROM google

If there’s one thing we can be certain about in these times, it’s that our behaviors have changed significantly because of COVID-19.

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How does a startup become a unicorn? Canva’s leaders say experimentation is key

CONTENT FROM google

Learn more about the unicorn’s journey to success in a Q&A with Sunil Subhedar, global head of performance marketing at Canva, and Sarah-Jane Campbell, Google’s industry head of tech and telco in Australia.

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Building for the future: Why Google is prioritizing investments in privacy, measurement, and automation

CONTENT FROM google

Jerry Dischler, VP and general manager of Ads, shares Google’s vision for advertising.

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How the best companies in the world are reinventing their customer experience

CONTENT FROM google

Creating a great customer experience is easier than one might think. One retailer recently increased revenue per online customer by 59%, just by following this simple framework.

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Hope For a Better Tomorrow: Three shifts defining 2021 and beyond

CONTENT FROM google

The pandemic created the circumstances for digital technology to offer real help–from delivering public health information, to surfacing essential services during lockdowns, to keeping communities educated and entertained. Yet, while technology offered a lifeline to many, it also put the digital divide–the gap between those who are able to reap the benefits of the Internet and those who are not–into sharp focus.

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