India drives itself into a technological era

Different industries are utilising technology in different ways to transform the country into a technological hub

Every industry is a technology industry, yet India is taking it one step further and becoming a tech-driven economy. The Economic Times reported that the innovation and growth of semiconductors in the digitised world has outgrown its supply shortage from previous years. Technology supported by semiconductors such as wireless and 5G, AI, and data centres will continue to fuel the growth of the semiconductor industry. By extension, this will be affected by the metaverse, as well. The metaverse is predicted to drive the revenue of semiconductor companies even further.

Multidisciplinary professional services organisation EY India revealed that the 14 percent growth of service exports has been driven by Information Technology (IT) Services and Business Process Outsourcing (BPO) services in 2022 from both the local and global front. 

Global corporations look into India’s talent and capabilities through their centres which have over five million of the highest quality and efficient people employed. This presents India with the opportunity to be a technology and innovation hub, which is what the country is working towards for the next two decades.

More: The call of home: Indian real estate is back on track

According to ETInfra, the infra subpage of the Economic Times, the commercial real estate industry has been following a growth trajectory, receiving an influx of investments in the past few months. With the concept of working from home remaining prominent, different organisations have been adopting the hybrid work model in their office spaces. 

The millennial workforce, being tech-savvy, is the main driver of the commercial real estate industry. Due to their preference of a more technologically advanced space, the industry is facing a digital transformation. Developers are utilising proptech to understand millennial consumers more, making real estate more versatile, comfortable, and customer-centric.

The Property Report editors wrote this article. For more information, email: [email protected].