Uploaded by Data World

Siddharth Mehta IL&FS (Former Director) https://www.business-standard.com/content/press-releases-ani/the-pandemic-has-accelerated-growth-in-the-digital-space-says-siddharth-mehta-former-director-il-fs-122033001147_1.html

You are here: Home » Partner Content » Press Releases ANI » News
What’s this?
The Pandemic Has Accelerated Growth
in the Digital Space, Says Siddharth
Mehta, Former Director, IL & FS
March 30, 2022 23:30 IST | ANI Press Release
Bay Capital
You would like to read
NIIT and Axis Bank partner to
launch FinTech Engineering
Mate Labs launches 'Crest', an
AI-Powered Inventory Planning
& Demand Forecasting Tool for
E-Comm Businesses to avoid
out-of-stock, fulfill demand &
grow revenue
umbai (Maharashtra) [India], March 30
(ANI/BusinessWire India): Siddharth Mehta IL
& FS Former Director and currently Founder and CIO
of Bay Capital believes that "Businesses will need to
think 'digital' if they are to compete and grow over the
next decade."
Siddharth Mehta is very excited about investing in the
Indian market rather than any other emerging and
Table Space expands Pune
footprint with 7th center at Amar
Tech Park
Dr. Kumar Mehta's latest book
"The Exceptionals" is out in
Mayur Mehta starrer 'Nobel
Peace' has been released on Jio
developed one. Because India has seen a tremendous
increase in the overall penetration of the internet owing
to strong growth in low­cost smartphones, a significant
reduction in data prices, the creation of an ecosystem of
products and services driven by the government's
digital initiatives, and the development of low cost,
robust payment systems. Today, there are over 758 Mn
internet users in India with ~700 Mn smartphones. In
fact, the average data consumption per user per month
in India is the highest in the world at ~13.5 GB and Indians spend almost 6.5 hours per
day online.
Talking about its initiation towards being digital and its impact on the market is
tremendous. Over the course of the last decade, India has laid down the digital
infrastructure pipelines ­ so much so, that today Digital activity has become part of daily
lives of over half the country and has enabled India to circumvent the challenges posed by
its poor physical infrastructure. Be it bank accounts, KYCs, daily transactions, accessing
government services, education services, and even COVID vaccinations, all of this is now
digitally led in India. Just to put things in perspective, India has the highest volume of real
time payment transactions with over 25 Bn transactions in 2020. China was next at about
16 Bn transactions in 2020!
In such a scenario, it can be said that India is now on the path to becoming the largest
digitize business hub in less than twenty years. COVID­19 also plays an essential role to
help India in rolling out the digitalization aspects. It has acted as an accelerator for the
adoption of the digital economy. In every sector and in every business aspect, digital
activity has become extremely important and relevant as this was the only way for
consumers to access products and services and for businesses to operate.
Pandemic has accelerated growth in the digital space!
Siddharth Mehta founder and CIO of Bay Capital said that "The digital transformation of
India is only just accelerating, and we believe the internet economy could grow 10x in 10
years from here on (to get to more than USD 800 billion), resulting in many large
businesses accreting significant shareholder wealth. The nature and shape of the Indian
economy and financial markets will be very different in 2030 than they are today."
Today, the digital ecosystem has evolved, and many segments have consolidated with clear
leaders emerging. Across the globe, the nature of digital economy dictates that the
consumer would tend to gravitate towards fewer platforms. Within this, leadership
businesses will end up having far larger share of traffic, revenue as well as profit pool!
Many large digital, consumer tech companies are already profitable on EBITDA level and
PAT profits look imminent. Quite a few of these franchises plan to list in the next 12­24
months and will be very well sought after by public market investors due to the growth and
profitability profile.
In the last 20 years, technology has leapfrogged significantly and digital has become a part
of our daily lives. With each passing moment, consumer awareness and dependence on
internet is only increasing and this has led to rapid decline in customer acquisition costs
and increased the overall Life Time Value of the customer for digital businesses. The
impact of this has not been lost on the overall investment community as well. Focusing on
investment opportunities in India's internet/digital ecosystem as a result of digital
transformation, Siddharth Mehta of Bay Capital has stated that "Yes, indeed, there are
many outstanding businesses that have created tremendous scale and are seeing their
paths to profitability getting accelerated. We are particularly interested in those businesses
that are solving uniquely Indian problems in uniquely Indian ways and those that are
targeting the next billion internet users in India."
The initiative towards Digital activities of several investors such as Siddharth Mehta IL &
FS Former Director will change the overall scenario of digital transformation in business
very dramatically in 3­5 years.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.
(ANI/BusinessWire India)
(This story has not been edited by Business Standard staff and is auto­generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up­to­date information and
commentary on developments that are of interest to you and have wider political and
economic implications for the country and the world. Your encouragement and
constant feedback on how to improve our offering have only made our resolve and
commitment to these ideals stronger. Even during these difficult times arising out of
Covid­19, we continue to remain committed to keeping you informed and updated with
credible news, authoritative views and incisive commentary on topical issues of
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so
that we can continue to offer you more quality content. Our subscription model has
seen an encouraging response from many of you, who have subscribed to our online
content. More subscription to our online content can only help us achieve the goals of
offering you even better and more relevant content. We believe in free, fair and credible
journalism. Your support through more subscriptions can help us practise the
journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Copyrights © 2022 Business Standard
Pvt Ltd. All rights reserved.
About Us
Code of Conduct
Terms & Conditions
Privacy Policy
Partner with Us
BS Magazines
Advertise with Us
Portfolio Tracker
Contact Us
Browser Support