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GoDaddy, the world’s largest Cloud platform dedicated to small and independent ventures, is empowering small and medium businesses (SMBs) in tier 2 and 3 cities of India and, to its surprise, is finding young women more keen to learn the skills needed to go online.
The US-based Internet domain registrar and web-hosting company is equipping web professionals and local resellers with the right tools, knowledge and skills they need to help grow their ventures online.
“As we go deeper into the country, we see huge numbers of young web developers and entrepreneurs waiting to be trained, in order to help local companies grow online in the New-Age technological environment,” Nikhil Arora, Managing Director and Vice President, GoDaddy India, told IANS in a free-wheeling chat.
“To our surprise, we find women more forthcoming and eager in tier 2 and 3 cities to learn new digital skills. We are also excited to see the positive response among web professionals and SMBs alike,” Arora noted.
Women entrepreneurs continue to face several challenges like gender bias and access to financial funding or venture capital in the country. According to a recent Mastercard Index of Women Entrepreneurs (MIWE) report, India is ranked 52 in the list of 57 countries surveyed when it comes to empowering women to run successful businesses.
Even the technology hub Bengaluru and capital New Delhi ranked 40th and 49th, respectively, on a list of 50 women entrepreneur-friendly global cities, said another report by US tech giant Dell Technologies last month.
The growing enthusiam among young women to learn digital knowledge and skills is a welcome sign, said Arora.
Today, one million people in India rely on GoDaddy’s products to get their ideas online and Arora wants to quickly add the next million in GoDaddy’s bucket.
Formed as Jomax Technologies in 1997, the company launched its first website building software and hosting services in 1999. In 2000, the name GoDaddy came into existence.
Today, with more than 17 million customers worldwide, GoDaddy has over 75 million domain names under management.
For the second quarter that ended on June 30, GoDaddy reported revenues of $651.6 million — up 16.8 per cent year-on-year — and international revenue s were at $233.3 million, up 24.3 per cent (year-on-year).
“We are very bullish on India. We have seen 8-10 million Indian SMBs — out of more than 25 million — taking their businesses online and next on our radar are the rest which are eager to go digital but don’t have the right tools, guidance and skill-sets,” Arora emphasised.
According to him, in a growing market like India, web developers are interested in learning new processes with new tools to help manage their clients while, at the same time, ensuring quality and expanding their business.
GoDaddy has already trained over 700 web professionals in Pune, Jaipur, Kochi and Ahmedabad.
“Web developers are a driving force in helping SMBs increasingly do business online and helping to shape the growth of the digital economy,” Arora told IANS.
As part of GoDaddy’s initiative, web professionals receive extensive education on how to amplify their business, develop and upgrade skills while accessing GoDaddy resources to help create and manage an effective digital presence for small business clients.
In its recent “Global Web Developer’s Survey”, GoDaddy found that nearly 50 per cent of developers in emerging markets like India tend to have more new businesses when compared to developers in other regions.
The findings showed that the primary drivers of small business websites are: Selling new services to existing clients (40 per cent); providing support to existing clients (31 per cent); and finding new clients and reselling products/services (28 per cent).
The research also found that in the US, developers and designers are more likely to work for a small firm and concentrate their work on fewer clients who provide larger retainers. However, in India, web developers primarily work in formal office environments.
According to Arora, web developers in India are now regularly guiding and engaging with small businesses to help them get online — given the “Do-It-For-Me” nature of the customers.
The pervasiveness of smart devices and increasing affordability has further encouraged millions of small businesses to leverage mobile to enhance their business. Over two-thirds of web pages designed by web developers for small businesses in India are more likely to be tailored and targeted for mobile.
According to Arora, the next wave of small businesses will rely heavily on web designers and developers.
“Supporting our customers in India, with increased training and support, and being available to help them create and grow their online presence for their business, has always been a key element of our value proposition,” said Arora. (IANS)
Driven by a surge in digital transformation owing to the pandemic, the IT spending in India is forecast to total $101.8 billion in 2022, an increase of 7 per cent from 2021, global market research firm Gartner said on Wednesday.
In 2022, all segments of IT spending in India are expected to grow, with software emerging as the highest growing segment.
Spending on software is forecast to total $10.5 billion in 2022, up 14.4 per cent from 2021.
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While experiencing a slower growth rate than 2021, spending on software in 2022 is forecast to be nearly double of what it was pre-pandemic.
"India has experienced one of the fastest recoveries despite being one of the worst hit regions in the second wave of the pandemic in early 2021," said Arup Roy, research vice president at Gartner.
As hybrid work adoption increases in the country, there will be an uptick in spending on devices in 2022, reaching $44 billion, an increase of 7.5 per cent from 2021.
The growth in devices is a combination of two componentsUnsplash
Also read: Eight Growing Job Sectors in the US
"The growth in devices is a combination of two components – hybrid work and pent-up demand from 2020 for device upgrades," said Roy. "Spending on devices will make up 43 per cent of total IT spending next year."
Next year, Indian CIOs are prioritizing a move away from rigid and monolithic ways of doing business to a more composable business and IT architecture where they will be able to better respond to disruptions.
"In 2022, CIOs in India will build on renewed interest in technology from the business to gain funding for new IT projects," said Roy.(IANS/PR)
(Keywords: IT sector, Pandemic, Highest growth, Digital Transformation)
A new monograph by the Observer Research Foundation, in collaboration with the Esya Centre, presents a deep-dive into the growth of cryptocurrency in India and proposes a balanced regulatory approach. According to the study, it would be unwise for India to place bans on private crypto assets, when it has the ability to capitalise on the opportunity offered by cryptocurrency.
The report offers key policy suggestions on building the ideal crypto regulatory framework that would both benefit India's economy and ensure consumer welfare. The Indian crypto asset industry has witnessed exponential growth over the last five years. Analysts suggest that more than 15 million Indians now hold digital currencies. As a result, cryptocurrencies, like any other financial asset, need to be regulated in order to ensure consumer welfare as well as promote innovation. This is the key finding of Regulating Crypto Assets in India, a report that has been jointly published by the Observer Research Foundation and Esya Centre, two New Delhi-based public policy think tanks.
The report offers key policy suggestions on building the ideal crypto regulatory framework that would both benefit India's economy. | Flickr
The report is a first-of-its-kind deep-dive into the world of cryptocurrency in India – one of the fastest growing consumer-bases globally. This analysis comes at a time when New Delhi aims to introduce a bill to regulate the asset. The report argues that India is well placed to capitalise on the opportunity that crypto assets present due to its expanding private crypto market. Hence, it would be imprudent to place a blanket ban on private crypto assets. This would result in significant revenue loss to the government and may encourage nascent industries to operate illegally.
Instead, the report suggests a balanced regulatory approach, which addresses the concerns of fiscal stability, money laundering, investor protection and regulatory certainty while fostering innovation. "Most regulatory formulae necessary to address the policy concerns related to crypto-assets, such as investor protection, foreign exchange management, money-laundering and tax evasion, already exist in financial legislation," says Meghna Bal. "They just have to be adapted to accommodate an emerging technological paradigm. The recommendations in our report show how this can be done."
The report also lays out suggestions for lawmakers on what a crypto regulatory framework must include. | Pixabay
In India, classifying crypto as a security, good, or capital asset could lead to unintended restrictions on investment or leave regulatory gaps in key policy areas. A sui generis crypto framework that adopts the nuances of the crypto industry would be more appropriate and in keeping with emerging global trends. The report also lays out suggestions for lawmakers on what a crypto regulatory framework must include: it must be technology neutral, innovation friendly and consistent, to fully harness India's potential in this domain. Among other things, the framework must lay down clear definitions, identify the relevant regulatory bodies and create KYC/anti-money laundering obligations, the report says. The regulatory framework should also protect crypto asset service providers from being liable for the actions of investors on their platform. This will help asset service providers innovate and scale new crypto-based products and offerings.
The report proposes that the government adopt a co-regulatory approach where industry associations and authorities such as SEBI, the RBI, and the Ministry of Finance share the responsibility of oversight. Such an approach follows the Japanese model, where authorities have tasked industry associations to enforce regulations. Providing incentives to industry whistle-blowers could help players within the crypto-market self-regulate. What India needs is a facilitative regulatory framework that would boost the growth of India's crypto ecosystem while addressing any possible harms to consumers and society at large. (IANS/ MBI)
(Keywords: Consumer Welfare, India's Economy, Private Crypto Assets, Ban, India, Cryptocurrency, Esya Centre, Crypto Ban)
Singer Rihanna was honoured by Prime Minister Mia Mottley at an event which marked Barbados's new status as a republic, which was attended by Prince Charles. Addressing the pop star by her real name, the PM said: "Robyn Rihanna Fenty tomorrow morning shall have conferred upon her the order of national hero of Barbados."
Rihanna was then summoned from her seat to accept the honor, with the Prime Minister managing to rouse a laugh from the singer when she referenced her 2012 hit 'Diamonds', reports femalefirst.co.uk. She added: "On behalf of a grateful nation, but an even prouder people, we therefore present to you, the designee, for the national hero of Barbados." "And to accept on behalf of a grateful nation - you can come my dear - ambassador Robyn Rihanna Fenty, may you continue to shine like a diamond and bring honor to your nation." Rihanna, who was born in the St Michael parish of Barbados, found fame in 2005 after being spotted by a record producer and has since gone on to become one of the most successful female artists of all time with sales of over 250 million and recently reached billionaire status through her Fenty beauty brand.
The Prime Minister continued in her speech: "Commanding the imagination of the world through the pursuit of excellence, her creativity, her discipline, and above all else, her extraordinary commitment to the land of her birth. "Having satisfied that, Ambassador Robyn Rihanna Fenty has given service to Barbados which has been exemplified by visionary and pioneering leadership, extraordinary achievement and the attaining of the highest excellence to the Government of Barbados." It comes after a historic move for Barbados, which has become a republic after almost 400 years and welcomes its first president, Sandra Mason, after removing Queen Elizabeth as head of state. (IANS/ MBI)
(Keywords: National hero of Barbados, Robyn Rihanna Fenty, Prince Charles, Barbado, Mia Mottley, Prime Minister, Rihanna)