In today's interconnected world data is the lifeline of any economy. Free-flow of data across the world has made it easier for a person sitting in one part of the world to access the data in any other part of the world. This has made it easier for any business to expand its reach at a global level. However, the importance and use of data does not stop at connecting the individuals and the businesses. Business worth trillions of dollar is done annually where the primary input is data. Five most valuable listed firms in the world - Apple, Amazon, Alphabet (Google's parent company), Microsoft and Facebook - deal primarily in data.
When you are 54 and feeling ancient, it is difficult enough to read up on Blockchain and Artificial Intelligence etc to stay relevant, what makes it worse is an appalling lack of use cases on block chain for business - without crypto at that. The book Blockchain for Business really helped me relate the technology to the real world. This is not where the goodies end, it makes a point on explaining how you can use your existing development team and skills to do 80% of the work required in moving your applications to blockchain.
There's consensus now across the political and ideological divide that even in the high- growth years, a large section of the population was not receiving the dividends of the progress India has made. There are a number of deeply-entrenched factors because of which every Indian has not been able to benefit from the GDP growth India has seen in the last two and a half decades post-liberalisation in 1991.
Sometime back Prime Minister Narendra Modi announced an ambitious target of 175 GW by 2022 for renewable energy. India has a low consumption of energy and will need to increase it several fold in the coming decades. With the global community working on reducing carbon footprint and the commitment of each nation being already in public domain with the international community as Intended Nationally Determined Contribution (INDC), the pressures for improving energy efficiency and increasing share of non-fossil fuel generation has become more intense.
Professing Indianness has taken media spending to a new high and journalistic ethics to a new low. There are marketing as well as editorial solutions to 'nationality laundering'. A Chinese company of yesterday becomes an Indian company of today by simply advertising so. Uber CEO is happy to take on Indian nationality alongwith Indian Guest Editorship.
The Indian economy is largely dependent on cash. Only 5 per cent of the country's personal consumption expenditure is done electronically. A sharp acceleration of economic growth is not possible with such kind of dependence on cash. Overdependence on cash is a major hurdle and a radical thinking and coordinated efforts are needed to take electronic payments system to the masses.
The Indian economy is predominantly cash-driven with only 5 per cent of the country's Personal Consumption Expenditure done electronically. This shows that there is a huge unexplored market for payment companies. It will require all players across the payments value chain to create much greater innovation in payment services.
I appreciate that the Department of Electronics and Information Technology (DeitY) has announced the "Policy on Adoption of Open Source Software for Government of India" and also brought out the policy framework for rapid and effective adoption.