App economy refers to the digital revolution in which a mobile application is available for everything in this modern era. Such as video games, social media, shopping portals, and healthcare services. This revolution has changed the fortunes of the entrepreneurs, enabling them to perform various economic activities digitally. This article is a small attempt to see how App economy will impact our country.
Cybersecurity focuses on protecting the personal information of internet users. Cyber-attacks or internet phishing aims to clone confidential data for their benefit. As we are advancing towards the digital and e-world, internet crimes are following us at an increasing rate. Hence, our Government needs to step in, even though it means a compromise with the laissez-faire.
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The total number of Chinese applications banned by India now stands at 267 by the Indian authorities for safeguarding the Sovereignty and Integrity of India. This governmental act has wiped out some of the most popular apps from play stores. For example PUBG, TikTok, UC Browser, share it, we chat, etc. The action has raised many queries in the individual mind. Some exclusively being, how the apps will affect the youth, app developers, consumers, and economy?
The early sign seems ominous as a local video-sharing app named Chingari earned 10 Million downloads overnight. A renowned Bollywood celebrity’s multiplayer action game made a record of gaining the highest number of pre-registrations in a day. So, what does this turn of events mean for our economy? Without further ado, let’s find out.
It is important to get familiar with the term App economy, to get a better understanding of what we’re about to deal with.
The term App economy was first used in 2010. It refers to the digital revolution in which a mobile application is available for everything in this modern era. Such as video games, social media, shopping portals, and healthcare services. This revolution has changed the fortunes of the entrepreneurs, enabling them to perform various economic activities digitally.
India: An Ideal Market for App Developers
India is on the verge of a mobile application revolution. A current report says that India has more than 760 million smartphone users in 2021. A website in 2019 called cable.co.uk reports mentioned that India is the country with the cheapest mobile data with an average cost of approx 0.26 US dollars for 1 Gigabyte of data. It is almost 48 times less expensive than the United States (12.38$). Therefore, a country with the second most internet user base serves as an opportunity for developers to innovate and contribute towards the growth of App economy. India is one of the leading countries for mobile users, which would place the developers in making better decisions and becoming more productive.
What does App ban mean for Indian economy?
The Governmental declaration about banning the Chinese apps has opened numerous opportunities for Indian developers to step out in the digital world and make most of the changes.
The Government of India has launched many schemes emphasizing making India a self-reliant nation. The Make in India initiative, the Digital India campaign, and even most of the recent policy conceived by our Prime Minister Narendra Modi during the pandemic called Atmanirbhar Bharat will get tremendous augmentation if the Indians can grow their App economy by tenfold.
As mentioned earlier, an App economy has changed the fortunes of entrepreneurs. Businesses and entrepreneurial activities are more likely to be prioritized if launched in a mobile application platform. It enables them to connect with people, receive instant feedback, and target international clients. So, entrepreneurs can gain more reachability for their goods and services through mobile apps. The e-commerce websites such as Amazon and Flipkart (acquired by Walmart) are live examples.
How difficult is it to go digital?
To develop a mobile application, defined skill sets are required such as
- Ability to build a User Interface Design
- Knowledge of Modern Programming Language
- Business Capability to innovate and deal with the competition.
One might not possess all the skills to develop and market his application. But, it would make more sense if organizations employ individuals to create mobile applications. It creates job opportunities since it is a known fact that India has had high unemployment rates in the past. Such job opportunities in the IT sector also create employment expansion in sales, marketing, and customer care departments.
Challenges down the road
There is no denying that the ban imposed on Chinese apps has opened a portal of opportunities for Indian app developers. But on the other side of the coin, it will not be easy for the local apps to face competition from international developers. The restriction on Chinese apps does not directly translate to a boost in the Indian App economy. Before the Chinese app ban, Indian applications existed in the market but could not lure the audience. The reason behind preferring the Chinese apps was the better user interface, convenience, and functionality. Beyond these factors, poor research and poor process execution are common reasons behind the failure of mobile apps.
Therefore, the apps will only succeed if the developers put their best foot forward to face competition from the international developers of leading countries like the US, Korea. To summarize, the move to ban the apps has carved a path for Indian app developers to dominate the Indian App economy. However, to make the most out of it, Indian apps must not come across the ‘bootleg version’ of the apps. In simple terms, our app economy should have quality over quantity. Then, our nation would move towards self-sustaining cyberspace on which our economy would thrive and grow together.