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Rising digitalisation offers $39 billion export opportunity for Indian business by 2022: Report

NEW DELHI: Rising digitisation will unlock a potential $39 billion worth of export opportunities for Indian businesses in select verticals by 2022, up from $16 billion in 2017, says a Google-KPMG report.

Travel, media and entertainment, software-as-a service (SaaS), consumer brands as well as real estate are the verticals providing high-potential export opportunities, according to the the report titled ‘Indian Brands Going Global: A $39 billion opportunity’.

Asia Pacific is one of the most attractive region for expansion by Indian players — with China, Malaysia and Indonesia as key target countries, it said.

“This growth is led by emerging economies, driven by adoption of mobile phones; this combination is driving a very rapidly growing cross-border mobile ecommerce,” said Shalini Girish, director, marketing solutions, at Google India.

Digitally mature geographies such as the US and UK are other lucrative geographies that can be tapped through digital channels, the report said.

Sector wise, the report has identified Asia-Pacific and Middle East as the broad focus markets for travel, with the UAE and Indonesia seen as very high potential markets for Indian online travel agencies.

For the media and entertainment vertical, markets like the United States, the United Kingdom, the UAE and mobile-first markets like Brazil are extremely lucrative for video consumption, it said.

Asia Pacific is the focus region for consumer brands — the fastest-growing region in apparel and consumer durables, while China, Vietnam and Indonesia are rapidly growing jewellery markets, the report said.

Consumer brand market in select retail verticals is expected to grow $2.64 billion by 2022 from $1.5 billion in 2017, it said. “Geographically, share of developing economies in global trade is on the rise,” said Sreedhar Prasad, head, consumer markets & internet business advisory, at KPMG India.

“This presents a compelling case for Indian Businesses to ‘Look East’ for growth,” he said.

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