Cannabis: In USA, the legal cannabis industry soars post COVID-19, market reports indicate that cannabis/marijuana-related businesses could touch $15 billion by the end of this year (which is 40% high from 2019).UK, Uruguay, Peru and Thailand are rapidly passing new rules facilitating exports, research and industry.Israel and Germany are importing millions of dollars’ worth of medical marijuana every year (demand is only about to skyrocket).
In 1985, India not only banned marijuana, but also abandoned conservation and R&D too.
But since theWest hasdiscovered that cannabis hascountlessbenefits, ranging from cancer treatment to bio-fuel. In spite of the international treaty, American industry forefrontsare gearing up for legalization.
As Deloitte mentioned in a report on 2018, the marijuana sector is a sophisticated industry that will create new jobs, new opportunities for businesses, and new revenues for government.
If cannabis is made legal for industrial or medicinal use in India, regularised cultivation of the plant could prove immensely profitable for the government.
5G: 5G stands for the next generation for mobile networks. It’s a global standard that is expected to have far-reaching impacts for consumers and businesses.
“Shifting from 4G to 5G is a once-in-a-life-time transition, which – much like the transition from horses to cars – will open up a world of infinite possibilities”, says the renowned Markets AnalystLuke Lango.
The 5G technology is expected to reach India in the second half of 2021. Next-generation 5G presents a phenomenal opportunity to jump and insatiable need for bandwidth, new industrial use cases and enterprise market needs would provide offshoot for service providers to invest in 5G networks.
Electric vehicles: Countries around the world are waking up to the potential of e-mobility. This decade is expected to be the decade of electric cars. The battery prices reportedly falling 73% since 2010, electric cars are expected to be as cheap as fuel-powered cars in the foreseeable future.
China is motivating EV industries with tax breaks, EV credit policies and research subsidies, meanwhile, the UK, France, Norway and India are looking to adopt e-mobility at a larger scaleto close out the petrol and diesel engines entirely in the coming decades.
India, on large-scale adoption of electric vehicles will save $60 billion on oil imports by 2030 (currently 82% of India’s oil demand is fulfilled by imports). Our Union Minister for Road Transport and Highways, Mr Nitin Gadkari says that electric vehicles and biofuels have an excellent chance for mass adoption. Mr Gadkari also said India is likely to become EV manufacturing Hub By 2025.
Renewable energy: Renewable energy sources make up 26% of the world’s electricity today and it is predicted that renewable energy will continue to rise in the upcoming decade, edging out fossil fuels and reducing greenhouse gas emissions.
As India is a tropical country, its solar potential is very high, it receives significant radiationand hence the government support and the increasingly opportune economic situationto ramp up the country in the renewable energy market at a rapid rate.
The government has designed policies, programs and a liberal environment to attract foreign investments.
The size and growth of anIndia’s population significantly affects the demand for energy.
Of the most populous countries, India is ranked second with 1.368 billion citizens (as of January 2019),India is expected to have more than 1.512 billionby the end of 2030.This growth will increase the nation’s energy consumption.
The Indian Government is committed to increased use of clean energy sources and is now undertaking various large-scale sustainable power projects and promoting green energy heavily.
In addition to the nourishing the environmentand satisfying demand of nation’s electricity, renewable energy has the potential to create many employment opportunities at all levels, especially in rural areas.
Pharma/ Biotech: Indian firms have established themselves as leaders of the global pharmaceutical market while meeting domestic demands. The Indian pharma industry has been growing steadily for the past few years.
The industry in India is worth about $37 billion, with exports accounting for about $18 billion, the drug prices in India are considered the cheapest in the world.India is the only country with largest number of Pharma plants that are US-FDA compliant and reportedly, India holds a fifth of all global manufacturing sites catering to US market.
On the Biotech front, India’s biotechnology is among the top 12 biotech destinations in the world and ranks second in Asia, after China.Now, the big pharmaceutical companies are pursuing biotechnology in house and many big corporations have acquired biotechnology companies or have developed ‘biotechnology divisions’ of their own.
The growth of pharmaceutical industry is overwhelming, India may rank among the top five global pharma markets by 2030.
The globe becomes more technologically oriented, automation and artificial intelligence can replace the jobs. Despite technological innovations, some industries will continue to grow exponentially Cybersecurity, Health care for the aging, Drones and Robotic, etc.
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