Digitization to unlock USD 39 bn export potential by 2022
Rising digitization will unlock a potential 39 billion worth of export opportunities for Indian businesses in select verticals by 2022 up from 16 billion in 2017, a GoogleKPMG report said on Thursday
New Delhi: Rising digitization will unlock a potential $39 billion worth of export opportunities for Indian businesses in select verticals by 2022 -- up from $16 billion in 2017, a Google-KPMG report said on Thursday.
The verticals that provides high-potential export opportunities are travel, media and entertainment, Software-as-a Service (SaaS), consumer brands and real estate, said the report titled, "Indian Brands Going Global: A $39 billion opportunity".
"Rising global connectivity is opening up new opportunities for businesses to expand internationally. There is a huge international growth opportunity for select verticals and we wanted to capture that through this report," said Shalini Girish, Director-Marketing Solutions, Google India.
"We have also introduced a revamped Google 'Market Finder' tool that can help businesses overcome the barriers when they want to expand internationally," she added.
Asia-Pacific is one of the most attractive region for expansion by Indian players -- with China, Malaysia and Indonesia as key target countries. Digitally mature geographies such as the US and UK are other lucrative geographies which can be tapped through digital channels, the report outlined.
"With 'Market Finder' tool, businesses can get access to all the resources they need to find the right market for their products and services, translate their websites and ad text, find new customers with relevant online ads", Girish said. For travel, Asia-Pacific and Middle East are the broad focus markets with UAE, Indonesia as very high potential markets for Indian online travel agencies.