Premium growth through new age technologies
1. Electric Vehicles - creating an Indian ecosystem
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India is transitioning into EV through public transport & corporate sector. Mahindra Electric Mobility Ltd CEO is happy that general public experiences EVs early. It will supply 100s of EVs to Uber tech (public taxi firm). MEM and Tata Motors Ltd will supply 10k ecars to govt employees.
Car-sharing or taxi fleets are ideal for EVs, as they will be professionally managed. LUT pvt runs corporate taxi service. Business has been brisk, so it plans to double its fleet (to 800 in 6mo), and go from Delhi to other Tier 1 cities like Mumbai, Pune, Chennai, Hyd. It expects to have 10k e-cars in 5 years! LUT uses MEM e-cars which do 175-200km/day. “Costs are just Rs 1/km!!" it says. It has even set up 60 charging points in Delhi!!
EESL is super-ambitious, as it targets 500,000 ecars for govt fleet. If true, MEM is waiting to bid for all its offerings (3 & 4 wheelers & buses). This should be enough for a national roll-out of charging infra, and attract early adopters among the general public.
Govt wants to create an Indian ecosystem. Though Tata won, MEM was offered 40% of off-take because it matched the bid. EESL is procuring charging points to optimise its roll-out in Delhi and adding points in other cities. Thus states like AP, Maha & Gj may get lions share of the 2nd tender (due in late 2018).
Govt has balked at going too far ahead of India's capability as it doesn't want import dependency. Alternatives, methanol and hydrogen are good — indeed, govt should go for bulk production if abundant, cheap fuel can be sourced from within. Mylink (alternative fuels):
https://plus.google.com/100789863972538583352/posts/BNdiFLSve1e
2. Focus on robotics and genomics
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Make in India 2.0 will be based on futuristic segments like robotics, genomics, chemical feedstock and electrical storage.
Govt has looked ahead to assay global opportunities, gathered information, devised strategy and prepared a 5 yrs action plan. The aim is to insert India in the global supply chain to reap long-term benefits. Attracting large anchor investors and physical connectivity (road, railways, airports, ports) are considered essential. Thereafter, policies, regulations, fiscal incentives, raw materials, land, skilled manpower & market linkages were mapped and planned for.
3. Blockchain revolution
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Blockchain is a wonderful digital tool for India, as it should eliminate corruption on a wide scale, and bring bloated informal sector into the formal one. Huge volumes of records can be held safely with traceability guaranteed. It's ideal for records like land, assets, automobiles, national ID, voting records, etc.
India Chain is a blockchain infra being built by NITI Aayog to complement databases like India Stack and eKYC. It will resolve horny issues related to subsidy distribution, regulating land records, small and medium enterprise (MSME) financing, court cases, etc.
AP govt is setting up Centre of Excellence to provide capabilities for blockchain, and has invited start-ups & experts to join. Maha, Kar, Kerala and Raj are following suite.
Fintechs have coupled wallets with blockchain to create new customer friendly financial instruments. While wallets are known for superior customer experience, blockchain provides the security backup.
4. Impact of new age IT technologies on fintech
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Firms are using many new age IT tools to customise their offerings. For example, advanced data techniques and analytics are used to identify and quantify risks. Artificial intelligence (AI) is helping to refine and expand credit offerings, insurance options and finance services. Internet of Things (IoT) is making monitoring data amenable to fine-tune customer's profile. For example driving data can impact on car insurance policies. Real time monitoring of houses can be linked to better home insurance.
5. Digital payments scene
---------------------------------
Digital payments, prepaid instruments, mobile wallets, financial apps etc have seen explosive growth last year. For example, prepaid payment instruments registered volume growth of 160%. Trend is projected to continue, with digital payments growing 10 times to $500B by 2020, and mobile wallet to $4.4 billion by 2022.
Affordable data plans for high speed internet have pushed up sales of smartphone and made digital more accessible. Cutting edge solutions from fintechs are taking customers beyond payments for groceries, etc to services like loans, investments, savings and remittances.
Digital growth can be credited to Aadhaar ID scheme that has collected biometric data (like fingerprint and iris scans) of virtually every Indian, and to RBI's Unified Payments interface. While UPI offers instant settlements between banks, fintechs have built innovative products over it. In 12/2016, Govt launched the popular BHIM app based on UPI. Google, ecommerce firms, cab aggregators & wallet companies have followed suite.
GOI is encouraging digital in other ways. It's decision to allow inter-operability between prepaid payment instruments has made wallets virtual banks, as monies can now be moved to other wallets without involving a bank. This has raised functionality & credibility of wallets, and made them more mainstream. Govt has mandated bank payments. It has slashed MDR (merchant discount rates) and absorbed it on small transactions.
1. Electric Vehicles - creating an Indian ecosystem
India is transitioning into EV through public transport & corporate sector. Mahindra Electric Mobility Ltd CEO is happy that general public experiences EVs early. It will supply 100s of EVs to Uber tech (public taxi firm). MEM and Tata Motors Ltd will supply 10k ecars to govt employees.
Car-sharing or taxi fleets are ideal for EVs, as they will be professionally managed. LUT pvt runs corporate taxi service. Business has been brisk, so it plans to double its fleet (to 800 in 6mo), and go from Delhi to other Tier 1 cities like Mumbai, Pune, Chennai, Hyd. It expects to have 10k e-cars in 5 years! LUT uses MEM e-cars which do 175-200km/day. “Costs are just Rs 1/km!!" it says. It has even set up 60 charging points in Delhi!!
EESL is super-ambitious, as it targets 500,000 ecars for govt fleet. If true, MEM is waiting to bid for all its offerings (3 & 4 wheelers & buses). This should be enough for a national roll-out of charging infra, and attract early adopters among the general public.
Govt wants to create an Indian ecosystem. Though Tata won, MEM was offered 40% of off-take because it matched the bid. EESL is procuring charging points to optimise its roll-out in Delhi and adding points in other cities. Thus states like AP, Maha & Gj may get lions share of the 2nd tender (due in late 2018).
Govt has balked at going too far ahead of India's capability as it doesn't want import dependency. Alternatives, methanol and hydrogen are good — indeed, govt should go for bulk production if abundant, cheap fuel can be sourced from within. Mylink (alternative fuels):
https://plus.google.com/100789863972538583352/posts/BNdiFLSve1e
2. Focus on robotics and genomics
Make in India 2.0 will be based on futuristic segments like robotics, genomics, chemical feedstock and electrical storage.
Govt has looked ahead to assay global opportunities, gathered information, devised strategy and prepared a 5 yrs action plan. The aim is to insert India in the global supply chain to reap long-term benefits. Attracting large anchor investors and physical connectivity (road, railways, airports, ports) are considered essential. Thereafter, policies, regulations, fiscal incentives, raw materials, land, skilled manpower & market linkages were mapped and planned for.
3. Blockchain revolution
Blockchain is a wonderful digital tool for India, as it should eliminate corruption on a wide scale, and bring bloated informal sector into the formal one. Huge volumes of records can be held safely with traceability guaranteed. It's ideal for records like land, assets, automobiles, national ID, voting records, etc.
India Chain is a blockchain infra being built by NITI Aayog to complement databases like India Stack and eKYC. It will resolve horny issues related to subsidy distribution, regulating land records, small and medium enterprise (MSME) financing, court cases, etc.
AP govt is setting up Centre of Excellence to provide capabilities for blockchain, and has invited start-ups & experts to join. Maha, Kar, Kerala and Raj are following suite.
Fintechs have coupled wallets with blockchain to create new customer friendly financial instruments. While wallets are known for superior customer experience, blockchain provides the security backup.
4. Impact of new age IT technologies on fintech
Firms are using many new age IT tools to customise their offerings. For example, advanced data techniques and analytics are used to identify and quantify risks. Artificial intelligence (AI) is helping to refine and expand credit offerings, insurance options and finance services. Internet of Things (IoT) is making monitoring data amenable to fine-tune customer's profile. For example driving data can impact on car insurance policies. Real time monitoring of houses can be linked to better home insurance.
5. Digital payments scene
Digital payments, prepaid instruments, mobile wallets, financial apps etc have seen explosive growth last year. For example, prepaid payment instruments registered volume growth of 160%. Trend is projected to continue, with digital payments growing 10 times to $500B by 2020, and mobile wallet to $4.4 billion by 2022.
Affordable data plans for high speed internet have pushed up sales of smartphone and made digital more accessible. Cutting edge solutions from fintechs are taking customers beyond payments for groceries, etc to services like loans, investments, savings and remittances.
Digital growth can be credited to Aadhaar ID scheme that has collected biometric data (like fingerprint and iris scans) of virtually every Indian, and to RBI's Unified Payments interface. While UPI offers instant settlements between banks, fintechs have built innovative products over it. In 12/2016, Govt launched the popular BHIM app based on UPI. Google, ecommerce firms, cab aggregators & wallet companies have followed suite.
GOI is encouraging digital in other ways. It's decision to allow inter-operability between prepaid payment instruments has made wallets virtual banks, as monies can now be moved to other wallets without involving a bank. This has raised functionality & credibility of wallets, and made them more mainstream. Govt has mandated bank payments. It has slashed MDR (merchant discount rates) and absorbed it on small transactions.
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- 1. Electric Vehicles
REPLY Jan 13, 2018 - 2. Focus on robotics and genomics
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REPLY Jan 18, 2018 - 3. Blockchain could head Fintech revolution
REPLY Feb 11, 2018 REPLY Feb 7, 2018
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