MUMBAI: The COVID-19<\/a> pandemic may have propelled India’s Internet sector into a phase of hypergrowth that will result in staggering value creation in the next decade, brokerage house BofA Securities said in a note on Thursday. “我们认为印度互联网行业是一个拐点,见证高速发展在未来几年我们看到科技公司稳步扰乱通过消除“中间商”的传统服务,提供更快、更便宜、更方便的产品和服务,“经纪说。 孟买:COVID-19大流行可能推动印度的互联网行业进入一个阶段的时机,将导致惊人的价值创造未来十年,经纪公司美银证券周四在一份报告中称。
“We consider the India internet sector to be at an inflection point to witness hyper-growth in the coming years as we see tech companies steadily disrupting the traditional services by eliminating ‘middle men’, delivering faster, cheaper and more convenient products & services,” the brokerage said.
The brokerage firm credits the rollout of 4G telecom services by billionaire Mukesh Ambani’s Reliance Industries in 2017 for the mass adoption of the Internet in India, and believes COVID-19<\/a> has accelerated the path towards profitability.
A supportive government, tech-savvy young population given more than 60 per cent of Indians are aged below 35 years, ongoing digitisation of small businesses and a well-funded private equity ecosystem, suggest that the stars are aligned to create investor value in the coming decade, the brokerage said.
BofA Securities is of the view that Reliance Industries remains the best play on the Internet ecosystem as it will garner over 500 million users over the next 3-5 years, offer broadband services to 20-25 million households and cater to 12-15 million small businesses.
“RIL’s approach of owning the “pipe” as well as the “services” offered on the pipe should help it earn incremental digital revenues,” the brokerage noted.
The brokerage house believes that start-ups in India are moving beyond the top 100 million consumers, and focusing on the next 100-250 million consumers to gain traction. BofA Securities said that as the country’s GDP per capita improves, a large part of this “India 2” market will move into the top tier of consumers.
“We find India ecosystem led by smart entrepreneurs to be maturing well and expect the focus to move from ‘traction to monetization’ in the coming years,” the brokerage said.
Here are the five themes it is keeping an eye out for the next 1-2 years:
Digital revenues at RIL picking up
<\/strong>
Over the next two years, BofA expects digital revenues from online, advertising, shopping and subscriptions to pick up. The app-in-app integration of JioMart inside WhatsApp should help in uptake of online sales of grocery, electronic and apparel for RIL.
Online consumption to pick-up from tier 3-4 cities
<\/strong>
Improving digital payment options, logistics and online offerings are enticing consumers from tier 3 and tier 4 cities to transact online. Companies like Flipkart and Amazon are taking a different approach towards these cities.
Fintech to be more combative vs collaborative
<\/strong>
After a relatively 'collaborative' approach in the past five years, BofA now expects Indian financial technology companies to take a more combative approach in the next 3-5 years. “Despite Indian banks being relatively better than their global peers, we find the banks playing catch-up,” the brokerage said.
Consolidation to pick up coming out of Covid
<\/strong>
Bigger technology companies would look to acquire companies having complementary offerings. BofA also sees struggling companies shutting down as focus starts moving towards unit economics.
IPO road-map: This time it’s real
<\/strong>
Most of the technology start-ups have maintained a stance of saying “we will IPO in next 2 years” for the last 4-5 years. Improving unit economics, reducing losses and the recent strong performance by IPOs in the US should encourage Indian companies to consider potential IPOs, the brokerage said.
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恒星对齐为印度的互联网因为在未来10年内创造价值:美银证券
“我们认为印度互联网行业是一个拐点,见证高速发展在未来几年我们看到科技公司稳步扰乱通过消除“中间商”的传统服务,提供更快、更便宜、更方便的产品和服务,“经纪说。
经纪公司信用的推出4 g电信服务由亿万富翁穆凯什•安巴尼的信实工业2017年的大规模采用互联网在印度,和相信COVID-19加速了朝着盈利能力。
美银证券认为,信实工业仍然是最好的利用互联网生态系统,因为它将获得未来3 - 5年,超过5亿个用户提供宽带服务20 - 25百万家庭和迎合12 - 15百万小企业。
“瑞来斯的方法拥有“管道”以及“服务”提供的管道应该帮助它获得增量式数字收入,“经纪指出。
印度的经纪公司认为初创企业超越前1亿名消费者,并专注于下一个100 - 250消费者获得牵引力。美国银行证券表示,随着中国人均GDP提高,很大一部分的“印度2”市场将进入消费者的顶层。
“我们发现印度生态系统由聪明的企业家是成熟,期望的焦点从“牵引货币化”在未来几年,“经纪说。
这里有五个主题是关注未来1 - 2年:
数字收入在瑞来斯捡
美国银行预计,未来两年的网上在线收入,广告、购物和订阅。JioMart app-in-app融合在WhatsApp应该帮助吸收杂货店的在线销售,瑞来斯电子和服装。
从3 - 4线城市在线消费上升
提高数字支付选项,物流和在线产品吸引消费者从三线和四线城市在线交易。Flipkart公司和亚马逊这样的公司正在采取一种不同的方法对这些城市。
Fintech更加好斗和协作
后一个相对“协作”方法在过去的五年里,美国银行目前预计印度金融技术公司采取更为好斗的方法在未来3 - 5年。“尽管印度的银行相对比全球同行,我们发现银行追赶,”经纪人说。
整合Covid捡出来
更大的科技公司会收购公司有互补的产品。美国银行也将陷入困境的公司关闭视为重点开始向经济单位。
IPO的路线图:这次是真的
大部分的技术初创企业保持立场说“我们将在接下来的2年内上市”在过去的4 - 5年。提高单位经济,减少损失和最近的ipo表现强劲,美国应该鼓励印度公司考虑潜在的ipo,经纪公司说。
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MUMBAI: The COVID-19<\/a> pandemic may have propelled India’s Internet sector into a phase of hypergrowth that will result in staggering value creation in the next decade, brokerage house BofA Securities said in a note on Thursday.
“We consider the India internet sector to be at an inflection point to witness hyper-growth in the coming years as we see tech companies steadily disrupting the traditional services by eliminating ‘middle men’, delivering faster, cheaper and more convenient products & services,” the brokerage said.
The brokerage firm credits the rollout of 4G telecom services by billionaire Mukesh Ambani’s Reliance Industries in 2017 for the mass adoption of the Internet in India, and believes COVID-19<\/a> has accelerated the path towards profitability.
A supportive government, tech-savvy young population given more than 60 per cent of Indians are aged below 35 years, ongoing digitisation of small businesses and a well-funded private equity ecosystem, suggest that the stars are aligned to create investor value in the coming decade, the brokerage said.
BofA Securities is of the view that Reliance Industries remains the best play on the Internet ecosystem as it will garner over 500 million users over the next 3-5 years, offer broadband services to 20-25 million households and cater to 12-15 million small businesses.
“RIL’s approach of owning the “pipe” as well as the “services” offered on the pipe should help it earn incremental digital revenues,” the brokerage noted.
The brokerage house believes that start-ups in India are moving beyond the top 100 million consumers, and focusing on the next 100-250 million consumers to gain traction. BofA Securities said that as the country’s GDP per capita improves, a large part of this “India 2” market will move into the top tier of consumers.
“We find India ecosystem led by smart entrepreneurs to be maturing well and expect the focus to move from ‘traction to monetization’ in the coming years,” the brokerage said.
Here are the five themes it is keeping an eye out for the next 1-2 years:
Digital revenues at RIL picking up
<\/strong>
Over the next two years, BofA expects digital revenues from online, advertising, shopping and subscriptions to pick up. The app-in-app integration of JioMart inside WhatsApp should help in uptake of online sales of grocery, electronic and apparel for RIL.
Online consumption to pick-up from tier 3-4 cities
<\/strong>
Improving digital payment options, logistics and online offerings are enticing consumers from tier 3 and tier 4 cities to transact online. Companies like Flipkart and Amazon are taking a different approach towards these cities.
Fintech to be more combative vs collaborative
<\/strong>
After a relatively 'collaborative' approach in the past five years, BofA now expects Indian financial technology companies to take a more combative approach in the next 3-5 years. “Despite Indian banks being relatively better than their global peers, we find the banks playing catch-up,” the brokerage said.
Consolidation to pick up coming out of Covid
<\/strong>
Bigger technology companies would look to acquire companies having complementary offerings. BofA also sees struggling companies shutting down as focus starts moving towards unit economics.
IPO road-map: This time it’s real
<\/strong>
Most of the technology start-ups have maintained a stance of saying “we will IPO in next 2 years” for the last 4-5 years. Improving unit economics, reducing losses and the recent strong performance by IPOs in the US should encourage Indian companies to consider potential IPOs, the brokerage said.
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