At the event of ‘Howdy, Modi” while addressing a crowd of 50000 people in Houston PM Modi felt proud to describe the digital and technological advancement to the community. He interacts about “new oil” and the “new gold” which indicated digital data in the field of technology. India is in a strong position to compete with the leading world. Going forward India will improve in data analytics regarding manufacturing.
The coming days will prove India a strong trade platform for potential United States investors.
The data rates in India are quite less as compared to other countries. It’s a prominent sign that in future days the use of digital technology is going to increase. Very soon India will be the hub for setting up new businesses and facilitating economic transactions.
“Data is the new oil”, said by India’s Prime Minister Narendra Modi. He also referred it to the new gold in the digital era. Nobody can stop growing a nation having the cheapest data rates. He also added, “Digital India is India’s new face to the world”.
India is the country where the mobile-data pack is the cheapest. So here data can be stored and processed at low cost as compared to other developed countries.
This data localization can be a big reason for the low cost of performing digital work in India.
Therefore unlike any other developed nation, India can work at low labor cost.
A nation having ample human resources for skill and technological resources like cheap mobile data and data storage means can work unstoppable.
Nations having more advanced in technology and digitalization can shift their work to India. India can be a good place for outsourcing. This not only helps India to prosper in the field of trade and business but will give the outsourcer nations to get expert services at a cheaper rate ever.
It would be a great time to develop a professional relationship between the Indian-American community.
In the digital planet Data Is the New Form of Wealth. India has an abundance of digital data at a low cost. This invites trade and technology to India.
India has professional competence in the Information technology sector. So you can see hell lot of software back office and offshore activities.
America can outsource its accounting and bookkeeping service activities like to India. The benefits being as follows:
- The outsourcing company can get timely services at a cheaper rate.
- The firm can get an expert accounting service as India has expert professional personnel
- The turnaround time will be less for the work.
- A timely service results in greater customer satisfaction which in turn increases your business reputation and brand name.
- The business can develop a long-term customer relationship.
Last but not the least, outsourcing the monotonous bookkeeping activity helps the business owner providing peace of mind. The entrepreneur will be able to think better. He can make the best utilization of the time in framing some strategic business development.
Outsourcing reduces the accounting burden of in-house staffs. Those human resourced can be deployed in some other core area to get better business growth.
Modi emphasized America’s strong economic growth. Both the leaders are keen to expand American exports to India. Thus people of India can have access to the goods made in the USA. This not only indicates the products but the services as well.
Delegating the accounting and bookkeeping task to India will establish a trade bridge between both nations.
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