Q: I recently read a report that the fintech business is likely to grow by leaps and bounds in the coming years, and the growth will be driven by SME lending. What are the prospects for young NRIs like me to enter the fintech industry?
Small and medium-sized enterprises cannot afford the high capital costs. Fintech players are able to raise capital through underwriting and through low-cost delivery systems. It is expected that digital lending startups will continue to serve small and medium-sized businesses, and consumer lending will be driven by small-ticket unsecured products such as BNPL (Buy Now, Pay Later) as well as through co-lending. It is expected that by 2030, Indian fintech will touch $1 trillion in assets under management and $200 billion in revenue. Apart from digital lending, wealthtech, insurtech and neo-banking will contribute to growth in the fintech area. Currently, India has the world’s third largest fintech market after the US and China. Therefore, young NRIs have good prospects in this industry. Over the past five years, foreign investors have invested USD 18 billion in around a thousand fintech companies. So far there are 21 Indian unicorns.
China has always been a leader in the toy industry. Is there any scope for India to make inroads in this sector and compete with foreign brands?
Made-in-India toys are now gaining ground considering the huge population of children. Unorganized players control nearly 90 percent of the Indian toy market. However, foreign market leaders are focusing on bringing more local flavor to their toys and games manufactured for the Indian sector. Several startups make toys that are environmentally friendly and relate to the country’s culture. New parents want to give their children toys that are not only entertaining, but have a historical background, e.g. Ramayana set based on Indian fables. The Indian toy industry has gained strength from the central government’s mandate to have quality certification of the toys that need the BIS trademark. This mandate has also brought in a wave of innovation among toy manufacturers who are now launching products that reflect Indian culture from the various regions of the country.
My daughter wants to train as a pilot and work in India. Is there room for this profession, especially for women?
According to the International Society of Women Airline Pilots, India has the highest percentage of female pilots. About 12.4 percent of all pilots in India are women compared to 5.5 percent in the US and 4.7 percent in the UK. Airlines are opening up the hiring of female pilots as studies have shown that female pilots exercise more caution while flying. Indian women are being encouraged by airlines by conducting outreach programs based on corporate guidelines. Many state authorities provide grants for the training of female pilots. Established airlines in India offer female pilots flexible schedules during and after pregnancy, and some offer pregnant pilots the option of temporary jobs on the ground. Female pilots find it easier to fly in India considering the family support they have as mother-in-law, parents and grandparents help raise children and manage households during the absence of the pilots. Such family support is not usually available to female pilots in other countries. Many young girls are attracted to fly through the air wing of NCC. The Indian Air Force has also started recruiting women pilots for helicopters, transport aircraft and now even fighter jets.
HP Ranina is a practicing lawyer specializing in tax and stock exchange management laws in India. The views expressed are his own and do not reflect the newspaper’s policy
Copyright © 2022 Khaleej Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
