If the second wave of covid 19 has made India weaker, digital resilience has helped India grow faster. Even when the European Union was experiencing a contraction of 0.2% in the last quarter, India grew by 1.6%. Today, India attracts 65% of the world’s software development projects across the globe.
In spite of 81% of the population working in the informal sector, India was predicted to go through a disastrous year. Also, India is a place that is predominant with English speaking population. Cheap labour cost, highly skilled workforce and deep internet penetration has attracted 20 billion dollars foreign investment in the four months of lockdown.
India is becoming a digital economy, and it is growing faster than before with contributing up to 1 trillion dollars each year. The covid-19 pandemic is the worst nightmare for the world economy, but it has also accelerated the digital transformation underway for a long time.
While passing through the storm, India has differentially equipped itself to deal with the consequences. Among various leading countries of the world, India is where coders, designers, and computer science graduates rule at the workplace. India is now a country with 560 million digital subscribers.
Now is the right time to invest more in the digital economy of the world. The recent trend in India has re-defined its digital resilience towards future uncertainties. Our CEO, in talk with Comment Central, said
“India will be one of the pandemic’s winners as the global economy becomes more digital-focussed and remote work becomes the norm, creating opportunities for India’s young tech-savvy workforce.”
Thus, this trend will also lead to incremental growth of remote work. This trend is very effective for outsourcing software development projects. Reports suggest that the software development partners are highly profiting the companies in various ways, such as:
Availing talent at an optimal cost
Getting the best talent at the best price is a dream for companies. The best coders for the project are difficult to get, and if one wants to complete the project within budget, it becomes more difficult! Thus India is a place where companies like to outsource their projects at a minimal price.
Pay on an hourly basis
When remote workers are hired for software development projects, then it becomes easier for companies to pay only for the engagement hours. This reduces the cost heavily.
Experiencing higher productivity with overlapping time periods
Indian software development companies ensure that the coders work in the partner’s time zone, which helps the company track the task progress.
And this trend didn’t develop during the covid times only. If it is the new normal for the world, then it is old for India. Rungta further added
“The country’s IT sector has been a leading force for digital transformation globally for several years. Post-pandemic, India may become the world’s leading digital economy. Many Indian companies already lead digital transformations for global companies. If Britain wants a slice of India’s digital resilience, it had better start investing in it now.”