This article mentioned in Economic times today provided a good insight on why out Indian IT companies are doing well against the global IT markets. For the past 5 years, the Indian IT market share has doubled.
Indian players like Cognizant, Wipro, TCS, Infosys, HCL have been outperforming the global players Accenture, Cap Gemini, IBM..
Pricing Strategy: The greatest strength Indian majors has is their lower prices compared to the global players. To reemphasise the IT service provided by Indian majors are value for money. Also Indian companies have thinner layers of management; that can make them more aggressive when they need to drop price points to win business.
Client Understanding: Many global players do not take up small projects. Taking up these small business help Indian players to gain confidence and help them to get bigger scope of work from the customers.
Confidence: The Indian players are equally confident with the global players. The existence of IT in India from the same time emerged globally help indian companies gain this confidence.
Innovation: Though global players are good at innovating offerings, some of the Indian companies are also equally good at ideas and capabilities. Sometimes beating client expectations with innovation is more important than selling innovation at a high rate!!
Good Relationships: Indian providers have done a great job of having senior executives available for clients at client places, when requested.
Why Trade with China is Important
Our Trade account deficit with China is around $39 billion. This is because as India has mostly imported electronics and hardware from China. Now that India wants to narrow this deficit, it is ready to provide the software services and expand its presence, as India cannot narrow this gap through traditional export commodities.
At the same time India is getting pressure in hardware and electronics, manufacturing sectors to use China products, but India is keen to develop in house and reduce imports to boost jobs. Also China wants to get into mobile telephony, digital TV, audio, but we are not interested in that as India want to develop our domestic industry.
Where can we work together:
Meanwhile India is also keen in looking china’s technical help in Indian Railways infrastructure to improve heavy lagging operations, station development and speeding up the trains.
In summary, India can do trade with China where
- India can benefit from infrastructure expertise of Chinese and that don’t have domestic industry impacted.
- Areas where there are no security concerns.
Sharing as services
Websites like RelayRides and GetAround, which are peer to peer car rental sites, allow people to hire their neighbours cars for a duration. Unused cars can then be a service that owners get paid for. Here is there is no inventory the website holds or there is no supply chain. It just found the need of the customer and turned into a service. Though the same concept may not apply for our country, but there is a great scope of services one can think on. One of the older services in similar line is Sulekha that provides the details of accommodation.
It is quite evident that people started using Internet for personal use more on smart phones then the PC’s or laptops. All the major companies these days started building customized apps for the users. For example company Uber has a list of chuffer driven cars, the prices are fluctuated based on their availability as demand raises.
Secret behind retailing
In the era of Myntra,Flipkart, and snapdeal, the pressure on retail stores is more. One should create a great experience to the customer when he enters the store. Create embedded screens showing how to wear the trendy clothes, with trendy cominations, instructing videos, how to roll a heavy jacket into a small bag etc..t though the attendant would always be there to assist, this visual experience will make a difference.
The innovations in emerging technologies help us to solve many challenges. They show a ray of hope for us in the coming years.
Health care sector:
- Diabetic patients who are 5 crs. in 2010 to be doubled to 10 crs. by 2013
- Caner occurrences can be very high
- By 2030 25% of deaths will be because of heart disease
How technology helps: Many companies around the world are developing networked devices for continuous monitoring of health. These new networked devices are very vital in the treatment of chronic diseases by identifying in early stages. Networked devices will let hospitals monitor patients when they are away, and help provide recommendation if needed.
image courtesy: laimoon
- Population in India to be 1.5 billion by 2030 against 1.2 now
- Production is 500 million tonnes in 2030 against 260 million tonnes now
How technology helps: Crop yields decrease because of extreme weather, genetic engineering can produce crops that can tolerate extreme temperatures. IT help in controlling the water and fertilizer use in farms. Also smart technologies based on sensors can cut down waste significantly.
Though it is possible to produce all our energy from renewable sources, the costs are high. Solar energy will be of great advantage with new technology innovations. Third and fourth generation nuclear energy technologies are safer and far more environment friendly than the current. Fusion power which is also from atomic reactions, also is great innovation in energy production
Quality of life
Smart technologies will add an edge to managing cities. Sensor networks and analytics will help to provide information about water usage, traffic patterns, accidents, fires and so on.