The global economy is growing at a rapid speed, faster than ever before. The overall wealth is increasing, primarily thanks to emerging markets in different parts of the world yet mainly across Asia and Africa. Some of the nations that are developing increasingly fast have made impressive progress in terms of economic growth. Many of them, including India, should be thankful to digital technologies for this.
The world is nothing like what it used to be just a few decades ago. The rapid development of digital technologies has revolutionized entire economic systems and industries within them. Today, the majority of the world’s 8 billion residents are present on the internet, an unprecedented achievement for the network that started going mainstream only roughly a couple of decades ago.
Today, social media and internet outlets are dominating the business. The world’s largest social media platform, Facebook alone, has over 2.4 billion active monthly users that surf through their news feeds on a daily basis. Hence the immense popularity of such networks, almost every company small or big is present on social media. Even some of the biggest corporations have pages, executing their marketing campaigns through them.
The digital revolution we are witnessing today has not left a sector untouched. Every area of the economy is desperately trying to adapt to the needs of the youngest generation. The time of millennials is over as Generation Z-ers are overtaking the world. They are set to become the most innovative and progressive age group we have ever seen. Moreover, they hold unprecedented financial resources, and as a group is expected to become the biggest purchasing power on earth.
The financial industry is one of the leading sectors in terms of the digital adoption rate and scale. Every commercial bank these days has a digital mobile or a web platform, allowing its customers to perform a whole variety of activities without leaving the house. Today, this is a reality we are used to but not long ago, transferring money with a mobile phone would have sounded completely insane.
India is one of the leading countries in terms of digital technologies
This southern Asian country of over 1.3 billion is expected to become equally powerful as China but in a much more sustainable way. India is aiming big to become the digital hotspot of the continent, as well as of the entire world. For this to happen, the government and private sector are investing billions in education, smart technologies, research, and development.
The nation is already considered a frontrunner as it has an ever-growing quality workforce out of which many are employed by overseas companies as freelancers. Due to firm knowledge of mathematics and computer science, Indian freelancers are particularly popular in technological industries or those that are in need of adoption.
The gambling industry’s digital story
Casinos are some of the most profitable businesses on earth. They always used to aim at the wealthiest parts of our societies while offering exclusive, luxurious services and locations in cities like Monaco, Las Vegas, and others.
However, thanks to the internet and smart gadgets, gambling entertainment is becoming more accessible and affordable than ever before. India is one of the leaders in this regard as the country started innovating within this industry at an early stage. Now, as a result, online India casino poker games are popular not only locally but in other countries as well.
However, the scale of employment is much larger in overseas companies that hire a growing number of Indian freelancers. They see the country as a convenient option. The workforce is qualified and highly skilled while costing much less than if hiring in western nations. Plus, the location of India gives them an opportunity to efficiently cover different time zones from one place.
The latter is particularly crucial for the gambling industry as new online casino platforms are trying to operate in as many countries as possible. Thus, it is often difficult for newly opened businesses to manage even minor operations in other parts of the world.
The financial industry
As mentioned earlier in the article, the financial industry is one of the most technologically advanced. It managed to quickly adapt while maintaining its lucrative nature. India’s financial sector is not as since its economy remains highly dependant on agriculture and heavy industry.
However, due to close cultural proximity, British financial institutions are hiring more and more Indian freelancers for different positions. More commercial banks operate in London than any other city in the world. Many of those are completely UK-based or have regional headquarters there. Moreover, the British capital is known for attracting individual financial assistance agencies for the super-rich due to their high concentration in the city. For such a colorful palette of businesses, Indian workers are crucial for surviving in a competitive environment.
The video gaming industry
Along with the fast development of digital technology, video gaming, which is tightly integrated with it flourished as well. Today, video games offer more realistic graphics, bigger and more exciting stories than ever before. Some developers are even trying to reinvent the possibilities of artificial intelligence within gameplays. Yet, as much as we enjoy having fun while playing video games, their development is a very long and complex process.
Despite the fact that big development studios have great teams, freelancers are still highly needed. Indian market is one of the most sophisticated in terms of computer scientists and programmers. Freelancers from India are dominating this sector in the United States and the United Kingdom, as well as in some European countries.
How big is freelancing in India?
There are no exact numbers on what the precise scale of the industry in India is. However, the research showed that India is one of the fastest-growing freelance markets in the world with 29% growth. Besides, software developers and other professionals in the field are already dominating industries in some of the most developed countries in the world. Therefore, the industry is likely rather vast.