India predicted to beat US, China in 2020-30 digital race 

Team Udayavani, Dec 10, 2019, 1:04 PM IST

San Francisco: By 2030, India could produce 8 digital giants like Amazon in US retail or Tencent in Chinese media in massive markets such as health, food, retail, financial services, consumer products, real estate, logistics and telecom because of world-class incumbents including Airtel, DMart, Godrej, Reliance and others according to a recent report Who Will Win Next Digital Race: startups, digital giants like Amazon or incumbents like Walmart, Tata, Lidl? published by GVG Capital, the #1 ranked global private equity firm in digital transformation. This report is based upon the world’s largest digital transformation study spanning 5,000 companies across 100 countries.

The stakes could not be higher, with room for only one winner digital giant in each large market. ‘Digital giants’ are $100 billion winners that dominate their respective markets.

The first digital race from 1995-2020 produced 8 digital giants: 6 from US (Amazon, Apple, Facebook, Google, Microsoft, Netflix) and 2 from China (Alibaba, Tencent), including 7 of the world’s 10 most valuable companies.

In the next digital race from 2020-30, $50 trillion in global consumer spending is anticipated to shift online, unleashing 40 new digital giants from 15 more countries like Germany and India in dozens of trillion-dollar markets from food to health. Incumbents have a window of opportunity because startups and current digital giants face structural challenges, government backlash, populist resentment and investor scepticism.

“India’s future is bright due to exceptional entrepreneurs, rising consumption and growth-focused government,” said Mr. Rajan Navani, Chairman, CII Council on Future Businesses and MD, Jetline Group.

“Indian companies can build digital giants only if they improve customer experience 10X and exponentially accelerate digital innovation,” according to Mr. Love Goel, Chairman and CEO of US based GVG Capital, known for leading the 7 most successful digital transformations globally. Goel added, “Our track record proves iconic incumbents with concentrated ownership, founder, family, private equity have a significant advantage in digital transformation.”