Some of the interesting trends to watch for in India will be around transportation, says Michael McQueen, award-winning speaker and trend forecaster. A best-selling author (How to Prepare for What's Next, The ‘New’ Rules of Engagement), Mr. McQueen has helped some of the world’s most successful brands navigate disruption and maintain momentum.
He spoke with The Hindu on the sidelines of the International Advertising Association World Congress here on Thursday:
How optimistic are you about India’s growth story?
What’s interesting about India’s demographics is, you have got a huge proportion of population under 35 years. Just looking at the millennial part, it’s 34% of your population under 35. You have got a generation coming through, who are inspired, ambitious, and committed to environmental causes. They are such an integral part of any growing economy, coming to the world not expecting to stay in the same place where they were born. India is not only a growing economy, but a flourishing one too. It’s the place to watch out for, it’s interesting. For a person like me, looking at what’s happening on the economic side in the market place, India is gaining a lot of attention at this moment.
Which are the areas in which India could accelerate its growth potential globally?
India is already doing so well in the tech space. There is no doubt about that. Just remember the number of CEOs and executives in the Silicon Valley from India. It is something that you guys bring in as a culture that makes you different. You guys are already punching above your weight. You are doing better than you should have.
Your trend forecasts for India
Some of the interesting trends to watch for will be around transportation. It is very interesting obviously on what’s happening with electric vehicles. You have got a very ambitious target to go all electric by 2030. That’s massive. The centralisation of technology means you could be a key player in that space, not just electric vehicles, but autonomous vehicles too. A lot of things are happening when you look at ground transportation in India. It’s really exciting.
Internet and privacy issues
There is a lot of bad [happening], Isn’t it? The reality is that there are issues around privacy in the world of technology. I had an interesting point that is applicable to India as well as to rest of the world. You are not paying for a product, but you are the product. If you are using an app, or a website you are adding value to you and you are paying for that data. Suddenly, people are asking how much convenience you want at the cost of privacy.