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Home Grown Messaging Apps Can Revolutionize The Economy Under Atmanirbhar India
The app leveraging data revenue when accompanied with competitive planning and strategic execution can rise beyond domestic consumption and make its space felt in the international market.
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As we have unconsciously entered into a digital generation, we have exploited its resources to the fullest to leverage our ever growing and advancing needs. There has been a unanimous shift from telecom calls and messaging to adoption of instant messaging apps, which has come a long way ahead by successfully incorporating voice calls and video calls into its myriad of other functionalities.
Looking at the popularity amongst the consumers, the home grown instant messaging industry can play a pivotal role in generating revenue for the country under the wave of Atmanirbhar India. It has been analysed that India accounts for 95 percent of the digital ad revenue that is estimated to be 2576 million U.S dollars. But all the earnings from the sector perennially flow overseas as the majority of popular messaging apps in India are not local.
If the market is intervened and a solution centric product is launched into the already existing robust digital ecosystem, the home grown messaging app can make its space felt in the market not just domestically but rather internationally. Considering the recent events, the market has undergone major drastic changes. As perceived by the experts, the market is brimming with opportunities to give boom to local products.
Though India has never explored the possibilities of self- manufacturing, it has great potential to drive the market even if it participates in the league now. Owing to the ever growing population, India comes with the backup of huge consumer base. Moreover, the increasing awareness amongst the mass around the digital ecosystem, has opened up new horizon for the instant messaging industry to grow exponentially.
Going back to 2016, when United Payment Interface (UPI), was launched, there were already big names dominating the industry. Still within the span of three years it garnered a total transaction of Rs 17.29 lakh crore equivalent to 240 billion U.S dollar.
In addition to this, taking into account the recent surge in download of Indian alternative for Chinese short video app, which has witnessed an uncontrolled frenzy following the government initiative to ban the international apps in response to national security. Within 48 hours the download has skyrocketed to 3.5 million with 90,000 new users being added per hour.
This brings to light India’s demographic market that can be utilized to the extent of national advantage. Keeping aside the aspect of huge consumer base, with its acceptance and popularity, there will be need of experts to enhance the services and produce latest solutions in order to meet the consumer demands.
Hence, there will be increase in the job openings which ultimately will help in reduction of pressure overlying the concern of unemployment across the country. Apart from this, the industry can have a downstream multiplier impact on the businesses, especially MSME. While aiding in reviving the economy, the home grown apps will give us the liberty to exercise better control over the data privacy and data security.
The app leveraging data revenue when accompanied with competitive planning and strategic execution can rise beyond domestic consumption and make its space felt in the international market. It can get significant traction form the large Indian immigrant population receding overseas.
Hence, India right now is standing at the altar of very promising future, only if acted upon wisely. Instead of being dependent on foreign apps, we can invest on building and strengthening home grown products that will not just account for revenue generation but can also create our visibility internationally.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.