India Eyes ‘World’s Data-Rich’ Position

With the recent introduction of services tax and goods of JAM trinity, India is sure to receive billions of data, which gives the country power to access services across the world.

India is also on its way of becoming the world’s richest countries, tailing on China and the United States. In 2017, the private fortune of India advances more than $8,230 billion, which places sixth on the world’s richest countries.

Despite the rising levels of poverty in the country, India remained to be in a high position because of Fintech business, trades and oil stocks. In addition, tons of billionaires are situated here, with total wealth of $347 billion.

Overall, according to Business Standard, India has the potential of becoming the richest country in the world if trade and business will flourish this year.

UK and India partnership

The UK is leading in terms of Artificial Technology (AI) but the market in India has a massive demand for it. Collaboration between the two countries can help benefit one another and eventually create technologies that can change the world.

For data and services, India is undeniably the hub for everything digital. AI and Fintech companies are working on different projects to make online payment accessible and reliable. More importantly, these companies are investing in huge data warehouse, which is in demand.

Meanwhile, the capability of developing is on the side of the UK. When these countries work together, there will be much better platforms for AI and Fintech industries.

Fears of data leakage and hacking still hit Indian data warehouses but Indian companies have upgraded its security and defences. Cyber threats are also blocked with multiple security layers and data lake in place. Overall, Indian companies have assured that data and information are safe because protocols are robust and policies are the guard.