‘India currently accounts for around 45% of global captive centres’ – 15 quotes on India business opportunities

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week (see the previous edition here). Share these 15 gems and insights from the week of December 5-11 with your colleagues and networks, and check back to the original articles for more insights. See our special compilation of quotes related to India’s pandemic responses here.

See also our pick of Top Quotes of 2021 on Entrepreneurship, Investment, Digital Transformation, Storytelling, The India Opportunity, Pandemic Resilience, Failure Recovery, Design, and Art.

There is massive potential in not just top cities but Tier II cities as well, as they emerge as growth frontiers in the office and retail sector. - Livspace

We have seen that customers from smaller towns are willing to pay for comfort and quality. We are building access to national and international brands for these customers. - Sharon Pais, Myntra

IT isn’t defined by any particular geography, and it’s for everyone - a farmer, a startup, a student. Innovation is also not restricted to any region. - Ashish Gupta, DoITC

As on 30th November 2022, Maharashtra, Karnataka, Delhi, Uttar Pradesh, and Gujarat are the top five States/UTs in terms of the number of recognised startups. - Som Parkash, Minister of State for Commerce and Industry

As digitisation in India continues to deepen, companies are eager to deploy AI and automation capabilities at scale to drive innovation and competitiveness. - Sandip Patel, IBM

I think there is a huge opportunity for India to become one of the top players in spacetech, both from the public sector and startups’ standpoints. - Awais Ahmed, Pixxel

Drones are being widely used in the country, across industries for surveys, deliveries and surveillance, and this segment is expected to perform strongly in the coming years. - Shankar Sharma

ALSO READ

[Year in Review 2021] 10 inspiring stories of people who made the world a better place

Driving fitness and preventive health by addressing nutritional gaps is a systemic trend which is taking off in a big way in India. - Sameer Maheshwari, Healthkart

Estimates are that in any village about 5% to 10% of the population are ultra-poor. - John Paul, The/Nudge Institute

A country battling high hunger rates cannot afford to lose 40% of its food to supply chain issues. - Swarup Bose, Celcius Logistics Solutions

Access to clean drinking water is fundamental to achieving a better quality of life for all Indians. Solving for this and enabling all households to have clean drinking water is a pressing need. - Deepak Mehrotra, Ashirvad Pipes

Inter-city [trucking] as a problem has not been cracked yet. Inter-city has always been more complex and the larger play. - Manish Saigal, Alvarez & Marsal

Though global economic growth is currently experiencing a decline, India and other emerging economies are poised to remain resilient in the face of macroeconomic pressures. - Ashish Gupta, Benori Knowledge

As on 30th November 2022, 84,102 entities have been recognised as startups by DPIIT. - Som Parkash, Minister of State for Commerce and Industry

India’s 64 million SMEs are the backbone of its economy, providing vital services, jobs, and growth. - Oliver Prill, Tide

MSMEs contribute around 30% to our GDP and have a share of 50% of the income generated from total exports. - Bhanu Pratap Singh Verma, Minister of State for MSME

India currently accounts for around 45% of the global GCCs (global capability centres) in operations and this share is expected to grow further. - Sachin Alug, NLB Services

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (dowloadable as apps here: Apple, Android).