India has been making great strides in industrializing their country to get up to speed with other nations around the world. India has formally faced many challenges as the country offers comparatively few resources in the form of valuable raw materials that were the key for development of other nations hundreds of years ago. As a large push over the last couple decades to improve the education system has trickled down other beneficial effects, India has observed its highest recorded economic growth as of the mid-2000s.
A large portion of business is conducted in the private sector which has enabled a more capitalistic approach to bringing in revenue. After the economic liberalization in the late 1970s, the government made many shifts in industry regulation, in particular, policies implemented by Morarji Desai lifted heavy corporate taxes, deregulated price control on goods and services as well as promoted the development of small industries. Though the country stumbled around the time of the Gulf War, small business gained a boost because of the trickling effects of the Dot Com Boom that occurred around Silicon Valley.
A major component to India’s current success as a prospering nation can be attributed to the improvements in communication capabilities. India was quick to implement telecom services nationwide, when push came to shove, for better communication capabilities although the country did not do so until the late 1980s. This enabled India to create better education and business models that has led to modern living styles in major cities like Mumbai, Delhi and Bangalore. As the 1990s brought a wave of mobile communication technology to the table, India was much quicker to adopt this technology – versus the landline telecom systems – which has kept the country on par with other modern countries’ communication systems.
India’s development has accelerated growth in a variety of industries. In May of 2012 the Government of India’s National Telecom Policy has allowed for the unbridled use of VoIP nationwide. The telecom companies in India are now being pushed to provide VoIP services for the many benefits inherent to using VoIP services. As cloud computing models are have taken rise, this push for VoIP will allow for industries to more effectively utilize such systems. It is forecasted by the India VoIP Market Forecast and Opportunities 2017 that the market will achieve as much as a 27% growth.
VoIP applications for personal mobile technology, as well as business systems, are becoming necessary worldwide for organizations to keep pace with the rest of the world. India is an excellent model for opportunity recognition. Though India was initially slow to begin modernization, when the call came to improve the quality of life for citizens, they responded with sustainable solutions. India is also seizing opportunity in application development. This will further supplement the VoIP market by offering applications which utilize this technology. With the projected growth in the Indian VoIP market could place India in the same national economic category of the leading Asian economies, Japan and China.