Anurag Batra, the Chairman & Editor-in-Chief of the BW Businessworld Group and the Founder & Editor-in-Chief of the exchange4media Group is an entrepreneur, journalist, an angel investor and a media observer. He also an author, TV show host and mentor to many successful entrepreneurs. He is a B. Tech graduate in Computer Sciences, a degree which he acquired before joining Management Development Institute MDI Gurgaon, one of India’s leading Business School. According to Anurag Batra, India has recovered faster than any country in the world post-pandemic. Digital adoption and technological acceleration are two major factor that helped cause this change.
India is in the midst of a deep technological acceleration and is aligned with the world, says Anurag Batra. He also forecasts that in some cases India is even ahead of the curve. Indians have digital adoption across every aspect of life and business.
Anurag Batra explains this fact with the help of some interesting factors:
The US retail market is the largest in the world, where e-commerce made up 16 per cent of it till February 2020, 20 years since retail went digital. In just two years since then, the percentage of e-commerce in retail has jumped to between 26 per cent and 30 per cent. An acceleration of that kind in just two years since the pandemic struck would be massive, Anurag Batra points out.
Addressing the Indian economy, the country had 10 million retail investors, which has swelled to over 25 million in the past few years, driven by new-age apps such as Zerodha. Technology IPOs have seen great success, at least at listing — driven by these investors, says Batra.
With these information Anurag Batra confirms the technological development that has occurred in India in the recent past years. This technological acceleration and the digitalization of the economy has helped India in recovering from the pandemic at a much easier pace. Digital economy was not familiar Indians before the pandemic. But digitalization has so well deep rooted in India during the pandemic that, even the smallest of manual work are now done digitally by Indians. India has recovered faster than any country in the world post-pandemic and I am sure we will remain on target to be a $5 trillion economy before the decade is out, Anurag expresses his hope.
Anurag Batra concluded on the note saying that, digital adoption and easier access to information has also led to twisting of information and fake news. Abundance of information is leading to dissonance of opinions on very small issues to bigger matters including Russia — Ukraine war. Information wars are preceding real conflicts, and then escalating them. Years of cultural and ideological conditioning supplemented with incessant fake news has often fructified into hard-line opinions and strategies.
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