Businesses should push their limits for survival.

Rapidly changing Technology and market condition challenge:

A decade ago, we had 3G mobility service in India. At that point of time, the price of Airtel 3G service was as follows.

Standard Plans:

? Rs. 103 for 100 MB, validity 30 days

? Rs. 200 for 250 MB, validity 30 days

? Rs. 450 for 600 MB, validity 30 days

? Rs. 750 for 2 GB, validity 30 days

A decade ago, the value of the rupee was much more than what it is now. For example, a packet of 10 King size cigarettes was available at a price of rupees 100 in 2010. Now the same would cost rupees 170. This means it has gone up by 70% in ten years.

Back then 2 GB of mobile data used to cost 750 rupees. The value of money has reduced severely in the last ten years. Yet, today we get 42 GB of mobile data for as low as two hundred and forty rupees.

It all started with the launch of Jio 4G Service from Reliance Industries in 2016. Jio offered free unlimited 4G service for 6 months. They sold 4G phones at a discounted price. Jio service became more affordable, accessible, and reliable. It enabled new business opportunities. Jio's efforts played a major role in India's digital transformation. Now Jio is the single largest telecom service provider in India.

The story above illustrates how the prices of gadgets and data have decreased over the years, when the value of money reduced with each passing year. The prices of food, beverages, and essential items such as fuel and medicine have steadily increased over the past ten years.

The increase in price of cigarette quoted above is just an example. Cut-throat competition is putting the Indian telecom industry under pressure. As a result, we get to enjoy internet service at affordable prices.

The above story reminds us about the rapidly changing technology where companies are competing in innovation to lead the race. An example of a product which was designed to last only for a short period is TATA Indica car.

Back in the day, the Tata Indica was one of the most affordable cars with all the essential features. The build quality of TATA Indica was not great. It was the car with the lowest re-sale value. The car was good only for 3 to 5 years or 5 lakh Kilometers. The car would require repair every now and then after 5 lakh kilometers. This is because TATA motors expected people to buy a new car after using it for 5 lakh kilometers.

Now there is global competition in the automobile industry. This is due to our efforts to switch to renewable energy. The climate goals have made us invent new fuels like Green Hydrogen.

The entire automobile industry is competing to lead the race. With the rapid evolution of new technologies like electric vehicles (EVs), existing automobile components may soon become obsolete. Therefore, investing in these components may not be a wise decision. It may not be wise to build vehicles that are designed to last for several decades, given the rapid pace of technological change.

There are certain changes that occur due to government policies. For example, our union government is now using "Bharath" instead of "India". Both "India" and "Bharath" are in the constitution. The name "India" has been in use from a very long time. So, instead of changing the official name of our country, the union government can consider banning the misuse of I.N.D.I.A by their opposition alliance. There was news about what could possibly happen to .in domains, if the government changes the name of our country as Bharath?

A Top-Level Domain (TLD) helps to identify the geographic location of a website. India has “.In”. UK has “.UK”, China has “.CN”, the US has “.US” and so on. If the government chooses to change the name of our country as Bharath replacing India, then the options like “.BR” or “.BH” are already taken by Brazil and Bahrain respectively. “.BT” is also taken by Bhutan. If long TLDs are permitted, there is a chance that our country might opt for “.BHRT” or “.BHARAT”.

Businesses should be able to retain their existing “.in” domains even if India switches to “.BHRT” or “.BHARAT”. The “.in” domains should be treated as premium domains like “.com” or “.org”, which are used by businesses worldwide. Many businesses prefer short URLs and have registered names like read.in , book.in , etc. Their domain name is only 3 or 4 characters long, while the extension (.in) is just 2 characters. They may not like a lengthy domain name extension.

We Indians should be proud that our economy is doing far better than several other countries despite pandemic and the ongoing war in Ukraine. Business leaders like Mukesh Ambani and Gautham Adani are making a significant contribution to our economy. They are providing job and business opportunities to millions, making them an essential part of our country's growth story. They represent India among the world's richest people. We may not always agree with their methods, but we cannot deny their impact on our nation's progress.

It is good to see that the Adani group is in talks to take one of Asia's biggest loans of this year. This is after the Hindenburg report which triggered a massive sell-off of Adani shares. The sell-off has wiped out over $145 billion from the group's market value. Businesses like Dunzo, Reliance Wealth Management, and Jio Financial Service will take time to grow and require investment until they become profitable. But it is encouraging to see them progressing steadily.

Business strategies should adapt to the changing world:

A successful business is one that is constantly evolving and adapting to the ever-changing world. The ability to adapt is a key competitive advantage in today's business environment. Businesses that are slow to adapt will be left behind. Technology is constantly changing, and businesses need to be at the forefront of innovation in order to stay ahead of the competition.

Here are few areas of concern which can make or break businesses:

? Focus on customer needs: Businesses should constantly listen to their customers to understand their needs. This will help them to develop products and services that are relevant and in-demand.

? Be flexible: Businesses should be willing to change their strategies as the market changes. This could mean pivoting to new products or services, or changing their marketing and sales approach.

? Be open to collaboration: Businesses can learn a lot from other businesses, both within their industry and outside of it. By being open to collaboration, businesses can gain new insights and perspectives that can help them to adapt to the changing world.

? The ability to adapt is essential for any business that wants to succeed in today's ever-changing world. By investing in technology, focusing on customer needs, being flexible, and being open to collaboration, businesses can position themselves for success.

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