Financial technology in India could reach a market value of up to 160 billion US dollars10. June 2021
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“.