Paytm, Airtel and Reliance Jio likely to become India’s most powerful companies in 2017

As 2016 comes to an end, the question on everyone’s minds is how will 2017 pan out? Will it be as full of shocks as 2016 was- mostly bad for business and life, or will it hold the key to ending this sad decade on a good note? In fact, the one good footnote to 2016 was the tremendous growth of technology and its pushing of stringent boundaries. It is this very fact that will pave the way for 2017 to become one of the better years in the decade.

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Digital payments (yes, PM Modi has struck gold here) and 5G networks will drive unparalleled growth for the Indian economy in the new year. Which means, 2017 could easily turn out to be the luckiest year for PayTM, Reliance Jio, and Airtel, the top 3 companies positioned at the right place at the right time. Mahindra Comviva’s report, The Business of Tomorrows says the impact of current and emerging new technologies on the wider telecom ecosystem has been notable.

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After demonetization and further technology integration, digital companies and telecom providers are likely to get bigger next year.

This is what you can expect from the upcoming year in technology space:

• Mobile payments have seen an incredible surge with increased smartphone penetration, it has given new players an opportunity to come to the fore.

• 36 percent of respondents believe that the financial institutions like Visa and MasterCard will dominate mobile payment ecosystem ahead of social platforms like WeChat, BBM Money, and Facebook Messenger.

• The study also states that about 60 percent of operators believe mobile wallets to replace physical wallets in next 3-10 years.

• While 5G standards are yet to be defined, 5G network is expected to act as a catalyst for a wide range of services, both on the enterprise and consumer side.

• Twenty-five percent of respondents outlines the most important benefit of 5G will indeed be the capabilities it will potentially provide in connecting billions of devices to the network.

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This report certifies what most of us having been thinking, the future is mobile and it has already started happening right now.