India-hub of opportunities…

S Mohini Ratna Editor VARINDIA New Year is about a fresh start. A start should be invigorating and inspiring and bring success and happiness with it. So it is time to approach what lies ahead in a better, smart way and to fill our lives with brand-new enthusiasm and passion with a firm belief that 2015 will be the year of Big Data and Analytics, and there will be increased adoption of smartphones leading to demand for internet connectivity and digital services. Businesses will start talking about data capital since having the right information about people, places and things will be critical for an enterprise to build the competitive edge and succeed. Prime Minister Narendra Modi said that his government is trying to revive the economy, and told global investors that India today is a land of opportunities and businesses, and invited them to be part of India’s growth story and ensured that the government is committed to create a policy environment that is predictable, transparent and fair. Digital India vision will help in the speedy implementation of economic policies. Make in India not only offers tremendous opportunities for the innovation-driven technology industry, but its success also hinges on the sustainability and continued growth of the technology-driven sector to create jobs and boost economic growth. India, the fourth-largest base for young businesses in the world and already home to 3,000 tech start-ups, will witness a phenomenal growth in the number of tech start-ups to 11,500 by 2020. The Indian ITeS industry has helped to create a niche for itself on the global landscape with a revenue contribution of US$118 billion. Opening of 100 million bank accounts in just four months, allowing 100-per cent foreign direct investment (FDI) in the railways, allowing 49-per cent FDI in the defence sector and 49-per cent FDI in the insurance sector are some of the commendable steps taken by the government. This also presents an economic opportunity to the investors as was showcased recently at the Vibrant Gujarat Summit. U.S. President Barack Obama’s visit on the occasion of India’s Republic Day celebrations on 26th January, 2015 will give a fillip to the Indo-US ties. Several CEOs will be accompanying Mr Barack Obama and he is likely to push for some changes in India’s IPR regime. Well, that says a lot about how India-US relations have moved forward. Lastly, the Ministry of Urban Development and the Ministry of Information Technology are working closely on the smart city initiative by reforming laws relating to urban development with a view to improving the quality of urban governance. This will lend greater strength to the overall governance process of the country. With all the sincere efforts being made by the Government, we can expect this year to be the best ever!