We need to work on building a more connected India: Manu Jain1 min read . Updated: 02 Dec 2019, 11:57 PM IST
Xiaomi India's global vice-president shares his five visionary ideas with Mint for the coming decade
2020 once seemed futuristic enough to envision transformation at scale, yet close enough to set as a target and hit goals. With the end of the year weeks away, Mint invites corporate leaders to share their vision for the next decade. Manu Jain, global vice-president, Xiaomi India, shares five ideas for the future with Mint.
Professional skill training in schools
Our economy needs to work towards incubating and encouraging several more hardware startups. In India, as of 2019, less than 5% of the startups are hardware-based, and this is primarily due to lack of incentives and investments in research and development. Professional skill training at the school and college level will further aid in the employability of individuals and spark the entrepreneurial spirit at a young age.
Stable policies to promote exports
Electronics and mobile phone exports from India stagnated from 2010 to 2018. To become a global manufacturing hub, India needs to compete with Vietnam and China, which investors prefer because of the stable export-oriented policies, and better infrastructure and logistics network. We should also invest in laboratories for global standard testing since BIS is not a widely accepted standard.
A plug & play model for suppliers
We have a successful component ecosystem for batteries, chargers and USB cables, and suppliers with limited capacities of high-value components such as cameras and displays. There are challenges for manufacturing in India that keep suppliers from expanding capacity and global suppliers from investing in India. We should invest in a plug-and-play model for suppliers with readymade infrastructure.
Bringing internet to everyone
India is a land of opportunities, and all regions can contribute. In India, over 60% of the households are in rural areas and suffer from lack of internet connectivity. We should invest in bringing internet to everyone. To further increase the ease of doing business, we need to work to build a more connected India with better intra-country transport options, faster trains and improved last-mile connectivity.
5G: The next revolution
5G wireless technology is the next big revolution for the telecom sector and for original equipment manufacturers. The technology has been deployed widely in some countries already. For India, there is a need to assess the viability, the approach and deployment plan to ensure readiness in terms of operating model, commercial model, and infrastructure necessary to get the ball rolling.