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Bharti

What trends will transform businesses? Are Indian businesses prepared?

Markets Leader, PwC India

While the macroeconomic scenario continues to be difficult in India, most CEOs we surveyed were confident of achieving growth in the medium term. That said, CEOs also expressed concerns about exchange-rate volatility, inadequate basic infrastructure and availability of key skills among others. Our 17th Global CEO Survey report has identified three global megatrends that will transform businesses in the long term. These are technological advances, demographic changes and shifts in economic power.

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  • 7 months ago
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  • Heer C.

    Heer

    Heer C.

    Communication, advocacy, knowledge management, ICT for health, program development

    More info on the impact of Demographic Changes in India:
    With a population of 1.2 billion people and current growth rates, India is estimated to become the most populous country in the world by 2021.
    India accounts only 2.4 per cent of land area but 17.64 per cent of the world’s population.
    The current population of India is equivalent to the combined population of the United States of America,Indonesia Brazil, Pakistan, Bangladesh and Japan. These countries are among the 10 most populous countries in the world.
    Concentration of people in urban on one hand helps in easy reach cities' demand for services will increase five to seven fold (McKinsey, 2010).by 2030.
    Poverty levels among various states is different- 12% to 53.5%.
    Per capita net availability of food grains for Indians is half than that of China and the world's average.
    Every year India will add 12 million “new entrants” into the working age group (15–59 years) so education and job creation is going to be a huge issue.

    For more information: Health Policy Project- http://www.healthpolicyproject.com/index.cfm?id=index

  • Supriya V.

    Supriya

    Supriya V.

    Manager, Retail and Consumer practice at PwC

    Technological advances focusing on solutions using mobility, analytics, cloud is something that companies are focusing on. While these may be within the control of the organisation, shifts in economic power and demographic changes are beyond their purview. It thus, makes all the more sense to spend time and energy on areas where one can direct the flow of growth. On the demographic front, it may be worthwhile to keep a a good watch on the growing strength of the women, not only on the consumption side but also on the production side where we see conscious efforts being made to nurture diversity in the workforce.

  • Sujit K.

    Sujit

    Sujit K.

    Senior Manager at PricewaterhouseCoopers India

    Demographic changes in India is double edged sword. The need of the hour is to skill the youth coming into the workforce properly and provide training to upgrade the employable youth being churned out, else we are rushing into a huge social crisis, which I think India is ill equipped to handle.

  • Alka T.

    Alka

    Alka T.

    Advisor at Price Waterhouse Coopers

    On one hand we talk about inadequate key skills and on the other hand India, owing to its demographic dividend, adds about 10 lacs people to its workforce every month.... In your opinion, what can the business of today do to bridge the demand and supply gap?

  • Devendra T. B.

    Devendra T.

    Devendra T. B.

    Manager - Markets & Industries at PwC

    Significant investments needed to close the gap in infrastructure requirement of the country... I believe that the investments will fuel in flow of funds in to the country helping improve employment prospects.

  • Bharti G.

    Bharti

    Bharti G.

    Markets Leader, PwC India

    Great point, Supriya. Particularly, in this week of the International Women's day. Technological advances also mean that businesses now have the tools at hand to segment and target their diverse customers in a more granular way and they must if they want to address the needs of the diverse and demanding customer base.

  • Bharti G.

    Bharti

    Bharti G.

    Markets Leader, PwC India

    Yes Sujit, and also to link the skilling to demand.

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