X
Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.
This is an entirely free service. No payments are to be made.Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.
This is an entirely free service. No payments are to be made.
| Login Failure | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
India has recorded the fastest pace of annual GDP growth among large economies. The country has benefited immensely from lower commodity prices which has helped keep inflation under check. Under the leadership of the present prime minister there has been a visible push for reforms in the country. Yet, India faces huge challenges in terms of improving the quality of life of its citizens i.e. providing basic facilities such as education and healthcare. Financial inclusion is also a big challenge for the country. The country's demographic dividend which is most hailed is turning out to be a big problem as the government has been struggling to create jobs.
Accelerated use of technology can provide solutions to some of the problems faced by the country. Technology has been the primary driver of disruptive change across industries around the world. In fact, the internet has helped the global world become more local. We are already seeing increasing role of technology, take for example in the financial services sector. Currently, many farmers and small medium enterprises do not have access to organized capital from banks. Government benefits program which provides different kind of subsidies re extremely inefficient and result in huge wastage. However, using Jan Dhan Yojana, Aadhaar and mobile phones there is now a fundamental/unique method of customer identification process in place that can be used to promote digital transactions. Using this process one can eliminate the classical roadblocks of paper-based identity proofs, need for a physical bank branch and the availability of hard cash. In addition, a unique platform is being created for tax management and reporting wherein all stakeholders like taxpayers, banks and governments are bought together which has the potential to completely transform how we manage the country's taxes. The prime advantage of using technology is the potential to solve problems of financial inclusion.
Technology also holds promise in a sector like healthcare which needs a lot of infrastructure and capital. There is a chronic shortage of doctors compared to resident population. Here, Big data analytics has the ability to transform our healthcare systems. In fact, Dr Devi Shetty, founder Narayana Health has encouraged increased use of technology in healthcare to enable to reach people who have little or no access to healthcare or places where healthcare costs are prohibitive.
Critical areas like education, skill development are crucial since this will improve employability and create better jobs for the future workforce. While it may be difficult to implement these large scale changes at one go. However, this must be looked at since technology has the ability to help India lift its millions of people above poverty and provide a better quality of life.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
|
| |
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
Copyright © Equitymaster Agora Research Private Limited.
Whitelist | Refer | Terms | Privacy | Contact | Advertise | About | Sitemap
Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
Equitymaster requests your view! Post a comment on "Can Technology Address India's Chronic Challenges?". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!