Published: 28-02-2021

The year 2020 will be written in different colours by different industries across the world. As rightly said, every cloud has a silver lining. The pandemic of Covid-19 taught us many life-lessons which may hold good for many more years to come.

The Digital Transformation

Digital transformation touched every aspect of human life during the pandemic. Paying for a cup of tea to ordering groceries, settling your cab fare bill or facilitating currency for your loved one’s mobile phone became life saviour in the testing times of Covid-19.

Brick to click or brick and click?

For many enterprises, this paradigmatic shift of ‘brick and click’ was initially a herculean task. Necessity being the mother of all invention was rightly exemplified by the year 2020, when the initially reluctant small and medium enterprises had to adopt the path of digitalization to stay in the business.

The union budget 2021 also was well-crafted to unlock new oppurtunities for the missions ‘Make in India’ and ‘Digital India’ paving an optimistic growth track for aspiring India.

Thanks to the digital transformation of Indian economy that despite of having a global output shrinkage of approximately 3.2%, Indian technology sector is continuing at the rate of 2.3% year on year growth. This growth figure can be dedicated to the expeditious development of the Digital transformation of the Indian economy.

New wave of Hyper-digitalization

The year 2021 is going to show us new wave of Hyper-Digitalization. The new term coined as “Phygital” (physical+ digital) world. This will push the existing business models to the next level. A seamlessly connected customer service, smoothly navigated CRM, minimal discontinuity in the logistics and supply chain. As the working business models in 2021 gets restyled, business analysts are optimistic about the new wave that will enhance Digital Ecosystem. This has lead the existing business models to prioritize their digital first approach. Covid-19 pandemic boosted robust acquisition by ways of cloud migration, rapid automation and mobility thus resulting in the availing of best contactless services round the clock.

As per a CEO survey by NASSCOM, 95% of the CEOs are positive that the year 2021 would be a far better year regarding hiring and recruitment. However there is a big gap of approximately 8 times between the demand and supply of India skilled digital talent which is going to be more than twice by the year 2024.Organizations are employing methods of reskilling their available talent pools to match the gaps created post covid-19 in 2021.

Another 70% of the people who voted in this survey are of the opinion that in 2021, there will be higher ubiquity of the remote working mechanism. Also the population of gig workers would see an upward growth in numbers. There are also forecasts of better digitalization deals in 2021, promising recovery chances in the BFSI, retails and manufacturing sectors. Sectors like healthcare, pharma, consumer goods etc. will see emerging trends.

As far as the growth trend of India is concerned, it is definitely going to cross this acumination with flying colours and fetch winning numbers in the Techade of 2021.

Sources

• https://www.financialexpress.com/industry/technology/future-of-work-indian-businesses-thrive-on-digital/2177226/
• https://nasscom.in/sites/default/files/media_pdf/Press%20Release%20-%20Indian%20Technology%20Industry%20Poised%20for%20a%20Significant%20Growth.pdf
• https://cio.economictimes.indiatimes.com/news/strategy-and-management/2021-will-bring-the-next-wave-of-hyper-digitalisation/80225137
• https://nasscom.in/sites/default/files/media_pdf/Press%20Release%20-%20Indian%20Technology%20Industry%20Poised%20for%20a%20Significant%20Growth.pdf