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Financial technology in India could reach a market value of up to 160 billion US dollars
Indian financial technology companies could more than triple in value over the next five years. With that, experts predict a valuation of between $150 billion and $160 billion in market value by 2025. This is according to a report on a joint study by the Boston Consulting Group and the Federation of Indian Chambers of Commerce and Industry (FICCI). The study examined the growth potential and the need for action for India’s financial technology industry.
According to the report, India is capable of adding between $150 billion and $160 billion in enterprise value to the financial technology sector by 2025. The experts foresee an increase in value creation of approximately US$100 billion. To achieve this goal, Indian financial technology firms will need investments of between $20 billion and $25 billion over the next five years, the report added.
Overall, India has more than 2,100 financial technology companies, 67 percent of which have emerged in the past five years. The current market value is estimated to be between $50 billion and $60 billion. The industry’s growth has been largely spared the negative impact of the Covid 19 pandemic.Since January 2020, India has seen the emergence of three Unicorn startups (more than $1 billion in capital) and five new Soonicorns (more than $500 million in capital).
Globally, mobile apps are becoming increasingly important in finance, whether professional users or end customers. Analysts see growth rates tripling between 2020 and 2027, with India playing an important role in the Asian region. The increasing popularity will also lead to higher demand for mobile devices such as smartphones and tablets in the respective growth markets. In India, numerous telecommunications products must undergo what is known as TEC certification before being sold or placed on the market. TEC is the abbreviation for Telecommunication Engineering Center, and the TEC is the competent authority in India for the certification of such products. More information about the mandatory TEC certification can be obtained without obligation from an expert of MPR International GmbH. We are pleased to answer your questions and to support your company with a TEC certification.
TEC certification has been around many years before 2019 as a voluntary certification, but since April 2019 the certification has been mandatory and every year the Telecommunication Engineering Center (TEC) expands the certification catalog and adds more telecom products. See the list of TEC standards here.If you are interested in understanding what requirements are needed for your product to be imported into India, please do not hesitate to contact us by email or phone at +49-69-271 37 69 261. There is no cost or obligation for us to check for you. If a certification need is discovered we can provide a quotation to make sure that all your certification needs are covered.
For more information about TEC certification, please refer to our free brochure “TEC Certification Made Easy“.
BMW launches new M340i on the Indian market
BMW unveils another new variant of its 3 Series model lineup, the M340i. Sales of the sporty compact sedan began in India on March 10, 2021. The top model is a BMW 3 Series upgraded by in-house tuner M-Performance. Under the hood works a 3-liter six-cylinder engine that produces 387 hp and 500 Nm of torque. Power is transmitted via an 8-speed automatic transmission and xDrive all-wheel drive. The BMW manages the sprint from 0 to 100 km/h in just 4.4 seconds. Compared to a standard 3-series car, the M340i has received a special exhaust system, stronger brakes and sport suspension. Cosmetic changes include front and rear LED lights, chrome grille, 19-inch aluminum wheels and a revised exhaust trim. The interior is largely identical to a standard 2021 BMW 3-series, which means a 10.25-inch touchscreen, iDrive system, 3-zone automatic climate control, parking sensors and a digital dashboard in the center. The M variant differs only by various aluminum applications in the interior, which are intended to emphasize the sporty character of the vehicle.
In addition to the release of the new top model in BMW’s 3 Series, there have been other adjustments for the Indian market. These were made due to the introduction of the GT variants last month. For instance, the sole diesel 320d is now only available in the luxury trim. The gasoline 330i continues to be offered in Sport and M trim levels. Even though the Indian market remains attractive for luxury vehicles from foreign manufacturers, BMW saw a 31.5 percent drop in January over the past year. According to BMW India, the decline is due to the Covid 19 pandemic and related delivery issues. In 2020, BMW managed to sell a total of 6,604 vehicles, of which 6,092 were from the main brand and 512 from the Mini brand. Meanwhile, the BMW Motorcycles division saw a huge increase, with 2,563 two-wheelers sold last year. Most in demand were the touring models R1250 GS/GSA and F750/850 GS, which accounted for 80 percent of all sales.
Cars and two-wheelers and their components must be certified in India according to AIS guidelines. AIS stands for Automotive Industry Standards, the technical automotive standards for India. MPR International GmbH – India Certification will be pleased to assist you with AIS certification and is also available to answer any questions you may have.
AIS stands for Automotive Industry Standards, the technical automotive standards for India, while TAC stands for Type Approval Certificate. This kind of automotive product certifiation is conducted by authorities like the International Center for Automotive Technology (iCAT).
Depending on the product category, there are different certification steps. We will be happy to advise you on certification in India like AIS, BIS, WPC, TEC or PESO and are always available to answer your questions.
Please do not hesitate to contact us for further details and consultation. You can contact us via e-mail, or call us (UK: +44 2071931135, Rest of Europe: +49 69 2713769261, US: +1 773 654-2673).
If you have any questions you can also use our chat-window in the bottom right. (Please check your browser settings if you can’t see the window)
You can also check out our free AIS-Brochure, which can be downloaded right here as a PDF file.
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