“Funding” key to realizing the Digital India potential, say Global Experts

In a panel discussion conducted by New Call Telecom Ltd.,experts in the emerging markets space said the potential for India to grow in the digital realm is huge. They also opinioned that for this potential to realize, adequate funding is key. The event saw a gathering of top executives from the telecom, technology and financial companies in India.

The expert on emerging markets, Dr. Jerome Booth said “India has very large growth potential, huge untapped demand and there is consumption-driven growth. It’s the perfect place to invest long term. These days, foreign investing is not just about the short-term financial investment. It’s about being a part of a transformational experience – on both sides. What all growing economies do need, and I think foreign investors can provide, is a different point of view, a global perspective.”

According to Nigel Eastwood, CEO, New Call Telecom, “I see India as a digital trailblazer, moving faster, and adopting new tailor-made technologies faster, than any other country in the region – lighting the way for all other emerging markets. But India must get its technology right first time. The needs of people living in India are very different to those in the West and therefore it needs solutions that are properly adapted to the country.”

Commenting on the financial scenario, Masaki Takayanagi, CEO, SBI Ven Capital said, “When emerging countries are on a growth path, the financial sector in these counties will tend to grow at a faster rate than the overall economy. Investing in India is highly attractive as the tech and telecom industry here is vibrant, innovative and fast-growing. We plan to make further investments in the covergence of finance and technology as there is a lot of potential in finance and technology. There is a huge unspent demand for digital among consumers and businesses in India and there is a huge potential to invest in applications that make managing money and making financial transactions easier, including apps such as mobile wallets, e-payments as well as other e-commerce  related apps.”

According to Percy Bilimoria, Senior Partner, AZB& Partners said “ While the FIPB is doing an incrementally better job, it’s time to move to a ‘’negative list’ regime. This will mean a short list of sectors where FDI is either not welcome or else is subject to conditions. This will enable transparency and take away any residual anomalies in the approval process.”

New Call Telecom, the organizer of this discussion is a residential telecom service provider in the UK and a growing presence in India.