We depend on technology in every area of our lives. From education, banking, and medical records, to streaming, playing games, and other forms of entertainment. In the Western world, technology is so common that it is taken for granted. If you want to bet on the lottery, you can do so from your androids, smartphones, and computers. You can even click here to check your lottery results. Even in India, technology is growing in leaps and bounds. No country can afford to or wants to get left behind.
With the availability of 5G technology, India is seeing a comeback from some companies that are from older technology. To recover their share of the market and offer services to Indian populations with more modest incomes, we are seeing more affordable internet services and equipment.
As the world gets closer to 5G technology, more of the “older” companies are making themselves available. This is a lot like what is happening in India. There are a couple of companies that have now made service affordable for even the most modest incomes. Companies in India offer rentals of 4G and 5G smartphones and androids for as little as 1548.23 Rupees per month. Until now, the price of this type of equipment was out of reach for a vast majority of Indians who lived in rural areas and are of lower income levels.
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It doesn’t matter what language the customer uses, and it doesn’t even matter if the client can read or write. Translations are built into the equipment, and the phones, ipad, or computers are easily controlled via voice commands. Imagine the windows to the world having this equipment will open for a population who had nothing before. Imagine listening to the greatest music ever written, or virtually touring the most exotic locations in the world.
India will benefit much from the internet. The educational system will blossom with its use. Students in rural areas will be allowed better choices, and more people will be afforded the opportunities for advanced education.
The internet should be introduced with caution. Adults in positions of authority must take the responsibility seriously in order to protect themselves and the customs of the society. It is essential that people understand they are responsible for their personal information while online. If a person is playing a lottery, betting on Esports, or even just renting a show, they must be aware that your financial information is being exchanged. This is why you should only deal with reputable companies, with secure sites. A simple Google search can tell you a lot.
E-Commerce on a National Level
In the very near future, India expects to provide 5G and 5G internet service to their citizens on their own. E-commerce between India and the United States has been growing for some time. This is especially true for the past decade. The financial implications are sensational and staggering.
The following quote explains it well. It comes to us from: INDIAN E-COMMERCE INDUSTRY REPORT
“The E-commerce industry has been directly impacting micro, small & medium enterprises (MSME) in India by providing means of financing, technology and training and has a favourable cascading effect on other industries as well. Indian E-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest E-commerce market in the world by 2034. Technology enabled innovations like digital payments, hyper-local logistics, analytics driven customer engagement and digital advertisements will likely support the growth in the sector. The growth in the E-commerce sector will also boost employment, increase revenues from export, increase tax collection by ex-chequers, and provide better products and services to customers in the long-term. Rise in smartphone usage is expected to rise 84% to reach 859 million by 2022.
The E-retail market is expected to continue its strong growth – it registered a CAGR of over 35% to reach Rs. 1.8 trillion (US$ 25.75 billion) in FY20. Over the next five years, the Indian e-retail industry is projected to exceed ~300-350 million shoppers, propelling the online Gross Merchandise Value (GMV) to US$ 100-120 billion by 2025.
According to a Bain & Company report, India’s social commerce gross merchandise value (GMV) stood at ~US$ 2 billion in 2020. By 2025, it is expected to reach US$ 20 billion, with a potentially monumental jump to US$ 70 billion by 2030, owing to high mobile usage.”
There is no doubt that global technology has arrived in India. Implementing the tools required to use it is the current order of business. The speed at which this will happen will surprise the world. India is absolutely going to be a major participant in the future of the world.