Latest News | Macro-opportunity in India is Built over Many Decades: Temasek

New Delhi, Jun 6 (PTI) Macro-opportunity in India is built over many decades with various factors like business readiness, policy, regulation, and any change in the system cannot derail it, a senior official of the investment company said on Tuesday.

Temasek Managing Director Investment (India) Vishesh Shrivastav at the release of a joint report on the Indian internet economy with Google and Bain & Company said that India opportunity comprises several factors, including consumption, affluence, demographics, business readiness, policy, regulation, investor sentiments etc.

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The report estimates that India's internet economy will grow to USD 1 trillion by 2030 from about USD 155-175 billion in 2022.

"The macro opportunity in India is multi-decadal. There are many factors that go into this right...A lot of this is reflexive. More confidence drives each part of this ecosystem to more, less confidence works in the opposite direction.

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"Personally, my view is that India's story is too important, too large, too inevitable for it to be dependent on any one of these 5-6 elements. I don't think that any one element not playing out is going to derail the story. Can it delay? Maybe. It's too uncertain," Shrivastav said.

He was responding to a question on the impact of growth projections mentioned in the report, in case there is any change in the government at the Centre.

According to the report, the growth will be led by the B2C e-commerce segment, followed by B2B e-commerce, software-as-a-service providers and online travel segment.

The report estimates that B2C e-commerce is expected to grow 5-6 times to USD 350-380 billion by 2030 from around USD 60-65 billion in 2022 and B2B e-commerce to grow 13-14 times to USD 105-120 billion from around USD 8-9 billion in 2022.

The software-as-a-service segment is expected to grow 5-6 times to USD 65-75 billion by 2030 from USD 12-13 billion in 2022.

Shrivastav said India is now a new hope for the growth of global GDP.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)