The four biggest trends of 2020 that will impact industries across the country –
- Financial institutions, not limited to traditional banking, will look at further intensifying their digital strategies. Interestingly, UPI, especially combined with the recent roll back of NEFT charges presents financial players with a timely opportunity to take strategic advantage of.
- Media and entertainment companies will make heavy tech investments towards the sharp growth that local language and OTT content will see on the mobile platform.
- Within the retail sector, the ever-increasing shift towards organic, locally produced and sustainably sourced products will add another layer of complexity to what the country’s biggest retail giants are trying to do – disrupt the hyperlocal retail market. Local shop owners (kirana shops) could very well hold their edge this year as well, with the retail biggies continuing to play catch up.
- The automobile industry will sustain the gradual rise in interest around hybrid and electric vehicle technologies. But, more than cars being impacted by the adoption of this tech in 2020, it will be the smaller vehicles (lifelines of urban mobility) like scooters and autos that will find more immediate adoption of this tech.