As a CEO or entrepreneur, you're always looking for the next big investment opportunity. India has undergone huge social, business, and economic changes in the last decade, and things are continuing on an upwards trajectory.
The country has always been responsive to new technology and has typically welcomed it with open arms. If you are considering what next step to take, here are three interesting areas of growth.
India’s online gambling sector is expected to surpass some 155 billion rupees by the end of 2023. If you consider that in 2020, it was valued at around 76 billion, you can see that this is impressive growth.
Overall, the compound annual growth rate is expected to be around the 27% mark. Online gambling is becoming increasingly popular in the country as more and more people get connected.
The use and adoption of smartphones combined with lower-cost access to high-speed internet mean it’s easier than ever before to gamble online. Players can choose from locally based casinos and can also choose to use trusted casinos with rupees and find welcome bonuses and promotions via dedicated casino comparison sites.
The popularity of these sites, such as casinomarket.com, for example, further demonstrates the promise of this industry from an investor perspective as it suggests that market sentiment is positive.
During the last quarter of 2020, purchasing volume increased by around 36%. This was driven mainly by purchases in beauty and wellness and personal care. Medium-sized cities accounted for most of the growth, up to 90% overall.
As for 2021, eCommerce retailers are optimistic for a good year. Strong sales growth is predicted throughout the year, especially in the online grocery, pharmacy, and social commerce sectors.
Plus, more and more Indians are becoming interested and confident in online buying and are gaining access to online payment methods. This, combined with the convenience of online shopping, means we will continue to see big growth in this area in the coming years.
Crypto and Blockchain
Crypto and Blockchain
Growth in the blockchain and crypto sector has been slower in India than elsewhere. This has largely been due to the attitude taken by regulators, which has been less than supportive. But interest in the sector is increasing rapidly.
Some sources have estimated that blockchains' contribution to the Indian economy could reach over $62 billion by 2030, but that the road to get there may be a bit uncertain.
Other statistics from Statista suggest that over 60% of Indians like the idea of blockchain payments and would like to use them in their daily life. In other sectors, the growth of crypto apps and crypto wallets is interesting, as is India as a place to develop such technologies.
Development costs are typically less in India meaning there is less upfront investment required and bigger profit margins when a product hits the market.
These three sectors are ripe for investment not just in India, but globally. Across all continents, they show promising forecasts and predictions, making them smart choices for investors, entrepreneurs, and business people.
India will continue making positive waves in the tech world, embracing new technology, and leading the way in the development of others- be a part of it!
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