The Story Of Indian Market | Global Biz

Augmented reality and virtual reality has found its place everywhere, even in non-IT products. The reflection of most trending and hottest industry is visible when it comes to augmented reality and virtual reality. This industry is growing tremendously and stands to be valued at$150 Billion by 2020 in India. This market-leading platform for expanding and flourishing a wide and inclusive range of applications in the field of real-time 3D, and augmented reality and virtual reality, is shaping up the education sector.

In 2014 a Chinese company named Xiaomi entered the Indian market with the Mi phone which offered flagship level specs at an affordable price. This phone was way more cheaper than the phone that Indian companies offered. Later more Chinese companies followed suit and soon enough the Indian smartphone market was a warzone between Indian companies and Chinese companies.

The Indian companies were struggling because there phones were not even close to the Chinese phones in terms of their pricing. The Indian companies did their business by buying Chinese phones and renaming them with their own brand and selling that phone at a higher price in the Indian market.

India gained its independence in 1947. However, the senior political leaders at the time decided to opt for an planned economy in order to increase India’s growth. After independence, the govt. took many measures to achieve substantial growth. Many times it was successful, many times it was not.

In that time, there was a strong urge for the countries to choose Industry as the “Prime Moving Force”. India was also no exception. Although India lacked significantly in the food reliance, it opted for the Industrial economy so that it could have enough support from the World Bank and International Monetary Fund as these two organizations used to help countries which opted for the industrial economy.

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