How Technology Can Pivot Global Growth In 2021

2020 was a total annus horribilis and a once-in-a-lifetime year. It devastated the supply chains all over the world. We have also witnessed that the Indian manufacturing sector tried to cope with it by bringing new innovations to resolve the deadly pandemic challenges. Tech start-ups have also played a crucial role in making these innovations happen in India. All the manufacturing companies have seen how data and analysis can help them predict what is coming ahead and how they can survive and thrive under such challenges. 

Technology becomes the vital lever for the Indian manufactures to innovate, adapt and scale in this year, especially by hiring mobile app development company to navigate through the possible challenges. Association betwixt the Indian tech start-ups and manufacturing enterprises would be crucial to make India the world’s local factory.

Challenges of 2020 and the new normal that we are experiencing in 2021.

–  Disorder in 2020, vaccination in 2021; self-reliant India can be a global partner.

After the significant loss of lives and livelihood in 2020, scientists worldwide are preparing the COVID19 vaccine. India is also about to make the history with what is expected to be the world’s most extensive vaccination program launched by any government on such a large scale. Not only would India drive the world’s most extensive vaccination program but Indian manufacturing enterprises, tech start-ups and MSMEs would play a crucial role in making sure that vaccine supply chain would be frictionless for the world. In 2020, we saw the Nocca ventilators; an IIT-Kanpur bred tech start-up who has taken up the responsibility for manufacturing the low-cost ventilators. This year Indian tech start-ups would have to take greater responsibility in offering more visibility and productivity to the COVID19 vaccine supply chain for India and the world. We have many lives and livelihoods to safeguard from the pandemic.

–   Offline supply chain processes in 2020 would make way for digital transformation in 2021

Tech start-ups would have the opportunities to add value in making a national supply chain network that would bring all the stakeholders to the same table via digital connectivity. Here, digital connectivity would be vital to building speed, agility, and scale capabilities as Indian manufacturing enterprises look to obtain a more substantial share of the global value chain in manufacturing. The extended disruptions have shown us the defects of offline and manually operated supply chain processes in 2020. This year, Indian manufacturing enterprises would require a technological push to keep our factories, MSMEs, and distribution channels up and running. To make it happen, digital transformation could be an integral part of it. The GoI (government of India) has drafted a bill on remote-working regulations as well to make work more conducive from home and remote areas.

Gradual solutions of 2020 to make a way to modular supply chains platforms in 2021.

Last year we witnessed defects of using a gradual approach to run the B2B supply chain. It has more than 5-6 levels than the last mile of the B2C supply chain. B2B enterprises provide 5 to 6 times more employment than B2C enterprises. This year, if Indian manufacturing enterprises are to be self-reliant, the focus should be on modular supply chain design that can help businesses implement top app ideas for in 2021. We require to segregate the supply chain ecosystem into pieces that can be allied together on-demand via combinational innovation to move ahead with speed and agility towards goods crucial to create employment and protecting livelihoods. Scalable technology-driven solutions such as AI, cloud computing, and machine learning can make this happen. Indian tech start-ups have the potential to make this reality for Indian manufacturers.

–  Reliant on others in 2020 to becoming self-reliant in 2021, Indian tech start-ups to lead

Growth before 2020 was directed by the world-class services, products and investments by the foreign multinational corporations. Pandemic has disrupted that route for India in 2020, and this year could be a new beginning. The pandemic has shown us that we need to minimalise our reliance on external sources and instead go local. Indian tech start-ups would be planting the seeds to localise the productions of goods, economic growth and job creation in the foreseeable future. Local innovation created by the Indian tech start-ups would be the path to reach the goal of self-reliance. This necessitates the Indian tech start-ups to revamp the direction of the innovations, focusing on offering solutions to our local challenges first and then scaling up for other products in the world’s various markets.