This spells tremendous opportunity for India

India has long been of high strategic importance in the global business and technology landscape. In addition to the cost advantage, other key factors are skewing the odds increasingly in India's favor, like its large and diverse demographic, immense market potential, and more importantly, the challenge of making an impact on a massive scale! Does this mean that we could see a $1-trillion company emerging from India by 2030? What would it take to make this happen? As we see it, three industries could give India its first trillion-dollar company.

The first and perhaps most apparent is IT/ITeS services. Contributing nearly 8% to India's GDP ($194 billion in annual revenue) and employing almost 4.5 million people, India's IT industry is poised to lead the nation's next phase of economic growth. As a low-touch world takes hold, IT companies, expected to contribute $350 billion by 2025, will play a critical role in molding India's $1-trillion digital economy.

Next, the large business conglomerates, namely the two biggest companies—Reliance Industries and the Tata group—employing almost one million people, and generating close to $200 billion in revenue (2019-20), are likely to hit this mark by 2030. To stay ahead, both organisations are digitising themselves and harnessing the power of technology to capture key market transitions. For instance, Reliance Jio connects over 400 million Indians to the Internet and is focussing on bringing its gamut of digital services to millions of underserved or unserved customers, which opens up huge opportunities for the company.

Trillion Dollar Company

Can India have its own trillion-dollar company?