Building in India, exporting to world, assert business honchos | India News
New Delhi: India’s consumer market, young population and digital infrastructure are giving companies a leg up, industry leaders said while discussing how businesses are building for India and exporting those models globally.Shiv Shailendran Sekar, director and head of revenue, category, Uber India and South Asia, says the country’s uniqueness is its strength. “The kind of challenges and opportunities we have in India are unique, which helps us in many ways,” he said.Many of Uber’s latest innovations are now being exported as “India First Products”. “A lot of the technology for Uber globally is being developed out of India,” he said, adding that the company has evolved from a four-wheeler ride-sharing service to “a one-stop shop for mobility for all consumer needs in India”.“What works in India will definitely work in many other markets,” Sekar said, adding that India offers the opportunity to test and refine the scale before taking it overseas.Rajesh Chandan, chairman of Elements Wellness and Indiashopee, said low internet costs — “just Rs 10-15 per GB” — created a strong scaling advantage, enabling tier-II and tier-III cities to export products and reach a global audience.By handling fully digital transactions and over 2,350 customer resolutions, he said the digital ecosystem instills confidence among small traders. But the standards must be met. “If we want our products to pick the world, we have to focus on quality,” he said, adding that he sees more potential in preventive healthcare as India opens up through FTAs and gains global acceptance.India’s advantage lies in “population” and “talent”, says Ruchika Panesar, country head of NatWest Group India. “When we bring interns into the organization, it is equally important that they are working on production scale projects rather than on dummies,” he said.Sanjay Salunkhe, CMD, Jarrow Institute of Technology, says India’s youth is its strongest asset. “65% of our population is under 35.”
