India is an exciting place with 1.3 bn people, and half of them are less than 24 years of age. How will this massive population develop and how will it affect the indian economy and ultimately the world economy?
The GDP is growing fast. Just structural growth, if well managed, will develop India quicker than most economies in the world. India has great potential in its young population, not only able and willing to work but also creative and motivated to start new businesses. The Government of India’s initiative Startup India was launched in January 2016, “to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities”. A status report was published a couple of weeks ago, after the first active year. (NB: The report might not download properly in Internet Explorer. Please use another browser, e.g. Chrome.)
The service sector is growing in importance as the population, and infrastructure, needs it. The service sector is the dominant sector in India’s GDP and has attracted a significant foreign investment flow.
With the economy growth as base, and a developing service sector – the security sector will be a very exciting business to be in, as it is growing faster than both the GDP and the service sector at large.
With my background in Securitas and the service sector I think India will provide a very exciting platform for developing the security industry. The balance in the world will be affected and industry reports indicate that the Asian Security Market will be the largest security market in the world in 2020!