TiE Delhi-NCR, one of the world’s largest network of successful entrepreneurs and professionals hosted the seventh edition of India Internet Day recently in the capital. The conference saw participation from over 500 internet enthusiasts from across the nation, brought together to go beyond prosaic and unravel the gamut of opportunities the sector presents.
By 2020, India will have an estimated 702 million smartphones in use and mobile phones will emerge as the preferred device for online shopping, accounting for 70% of total online shopping. Unified Payments Interface, clocked 178.05 million transactions in March’18 – but digital payment apps dominated a majority of the transactions. The conference saw the actual Third Wave of Internet Consumers on stage – Babita Garg (a homemaker from Faridabad), Bal Govind (a Government School Teacher from Sitapur), Dhruv Kumar (a Videographer from Barabanki), Bhagwat Singh Negi (a Railway Coach Assistant from Uttarakhand) and Yukti Sharma (a College Student, Delhi). Sahil Kini (Principal, Aspada Investment Advisors) encouraged the audience consisting of budding and affluent entrepreneurs to exchange insights on the Tier 3 internet penetration and consumption patterns.
On the occasion, Geetika Dayal, Executive Director, TiE Delhi-NCR said, “With the seventh edition of India Internet Day, we kept a sharp focus on how the entrepreneurs should tap into the emerging user base that hails from the corners of the country. The conversations at the event were weaved around the third wave of internet users, their requirements, consumption patterns and the ways in which startups can tap into this potential user base. We also focused on the nuances that the startups need to keep in mind to reach out to the next 300mn users.”
The day began with a Fireside Chat between Ananth Narayanan (CEO, Myntra) and Deep Kalra (Founder and Group CEO, Make My Trip). Ananth shared insights around Myntra’s back-end technology where they have employed Artificial Intelligence to predict consumer behavior – the said technology has been harvested over the years to actually differentiate what the user will buy. This was followed by an engaging session with Daniel Wetstein (Managing Director, Morgan Stanley) shedding light on the evolution of Internet economy where he highlighted the potential of internet in education and healthcare.
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