Demographic profile

Population: 1,380,004,385

Population Growth Rate: 0.99% (2020)

Languages: Hindi, English and at least 20 other official languages

Literacy: Total population 77.7%

Economic statistics

Gross domestic product (GDP): $3 trillion (2019)

GDP real growth rate: 6.8% (2019)

GDP per capita: $2,041(2019)

Unemployment rate: 9.06% (Dec 2020)

Inflation rate (CPI): 4.06% (Jan 2021)

Why companies choose India as their next market:

A POOL OF OPPORTUNITIES FOR EUROPEAN TECH COMPANIES

• India is one of the top GHG (greenhouse gas) emitters in the world and must transition to a paradigm that de-links greenhouse gas emissions from economic growth

• Sustainability is a growing sector in India present on many corporate agenda’s and with support from the government.

• The main focuses are Mobility (Electric Vehicles & Charging), Energy Storage Systems, Agriculture, Manufacturing (Smart & Green), Decarbonization Technologies, Waste management, Sanitation & Water.

• Too many people in India still lack access to clean water, clean air and reliable energy.

• Collaborating with Corporates in India provides global opportunities beyond local market adoption.

• The healthcare industry in India is growing at a tremendous rate and more than $ 200 billion is expected to be spent on medical infrastructure by 2024.

• Healthcare has become one of India’s largest sectors in terms of income and employment, expected to reach 306 bn Eur by 2024 and to create 40 million jobs by 2030.

• The booming pharmaceutical sector is innovating and distributing life-saving medicines at the most affordable cost around the world. Valued at over US$35 billion a year, the pharmaceutical industry in India is the largest producer of generic medicines worldwide.

• India is also among the main biotechnology destinations in the world and is a leader in the global supply of DPT, BCG and measles vaccines.

• By 2024, the Indian Biotechnology industry is expected to reach 123 bn Eur from 51.5 bn Eur in 2020.

• By 2024, India is expected to have over 10,000 biotech startups (from the 3,475 in 2021) with a 19% contribution to the global biotech industry.

• Sectors like Power (24%), Highways (18%), Urban (17%) and Railways (12%) total about 71% of the projected infrastructure investments in India.

• India has the second-largest road network in the world, the world’s largest railway network in terms of passenger traffic and the fourth largest railway system, behind only the US, Russia and China.

• Currently, about 800 billion tons/km of freight and 2300 billion passenger/km are being handled by the Indian transport system, with the total transport demand growing at around 10 % a year in the last 10 years.

• The growing mobility market is expected to touch $90 billion by 2030. Taxi cluster revenue in India is expected to exceed $61 billion to date, transport revenue is expected to reach US$ 43.3 billion by 2025.

• India has 35 of the 50 most polluted cities in the world and Indian cities face one of the worlds highest levels of traffic congestion.

• In India, the logistics market is expected to reach around $255 billion by 2022, growing at a CAGR of 10.5% between 2019 & 2025.

• The parcel delivery market is not only large but dynamic, with growth rates ranging from 300% in developing markets like India.

• India has about 580 million people in the age bracket of 5-24 years, which provides a great opportunity for the education sector.

• The education market in India is expected to amount to US$ 225 billion by FY25.

• The Indian Edtech market is forecasted to reach US$ 10.4 billion by 2025 (from US$ 2.8bn in 2020).

• With growing adoption during the lockdown months, EdTech services and products are expected to have an addressable base of 37 mn-plus paid users by 2025.

• The education sector in India is a strategic priority for the Government. Various initiatives are being adopted to boost the growth of the distance education market besides focusing on new education techniques, such as E-learning and M-learning.

• In India, 100% Foreign Direct Investment (FDI) is allowed in the education sector (automatic route).

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• The 3rd largest startup ecosystem in the world.

• More than 35 unicorns.

• India has the third-largest group of scientists and technicians in the world.

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AN OUTSTANDING STARTUP ECOSYSTEM

• 7 million college graduates per year - 55% of the youth prefer working in startups over corporates (as per a youth of the nation survey of 150K young Indians). The median age of founders is 31 years.

• Bangalore is among the top 20 Global Start-up Ecosystems and is also ranked as one of the world’s five fastest growing startup cities. Delhi is among the top 40 Global Start-up Ecosystems.

• A growing presence of investors that have poured in about $9.3 billion into Indian startups in 2020 despite the Covid-19 pandemic upending many sectors of the economy.

• The ecosystem itself is supported by a growing number of funds, angels, and support organizations such as incubators, accelerators, event platforms and academic programmes.

• The Government has recognized the role of startups in propelling the economy forward and has launched several programs to help cultivate the ecosystem and boost entrepreneurship.

UNFAIR ADVANTAGES

• One of the fastest-growing economies in the world. The International Monetary Fund - IMF projects growth of 11.5% for India in 2021.

• One of the fastest-growing workforces in the world, estimated to become the world’s largest by 2025.

• A very young population - half of its population is below the age of 25 and more than 65% are below the age of 35.

• Stable Government – With a longstanding parliamentary democracy, liberal economic policies and incentive plans, India is a safer destination than other emerging markets.

• The Indian middle class is more than 350 million people. It will continue to drive India’s consumer spending and economic growth.

• India is expected to be the third largest consumer economy by 2025, according to a Boston Consulting Group (BCG) report.

• The world’s second-largest internet consumer market (second only to China): with over 740 million internet subscribers.

• High-speed and low cost mobile internet - available at just US$0.26/GB compared to US$12.37/GB in the US and US$9.89/GB in China.

• The third-largest higher education system in the world.

• Low cost of living - Low Operational Costs.

• English as one of the official languages.

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The project leading to this application has received funding from the European Union’s Horizon 2020 coordination and support action programme under grant agreement No. 101004815. Responsibility for the information and views set out in this website lies entirely with the authors.