The last two decades have witnessed a monumental transformation in the technology space. These developments have become ingrained in our daily life and often go unnoticed. Such is the impact of technology. Consider this, the amount of time spent online either on mobiles or on laptops has changed significantly. Everything is available at the touch of a button or a click. You have virtual assistants, chatbox, cloud computing, artificial intelligence etc. One can firmly assert that technology covers practically all sectors of the modern economy; and sectors too rely on technology to uplift their quality, productivity, and profitability. Today, the challenges an organisation would face are not about a lack of technology but identifying the right use and delivering value.
India is home to some of the top companies in Information Technology, globally. Driven by talent, favourable government policies, and an increasing demand for tech-enabled solutions, we are currently in the throes of a multi-decade development in data and analytics. Global demand for IT has grown significantly, with COVID and a pivot from traditional services being significant triggers.
Consider the composition of some of the top indices globally. More than half of the index weight for the NASDAQ Index is engaged in disruptive technology as a theme. Information Technology has one of the highest weightage attached to itself in the S&P 500 Index. All these are further proof of the growing influence of the sector. Certain heavyweights in this sector, who have demonstrated their prowess in the last decades, continue to enjoy a dominant position in mutual funds as well as investor portfolios.
Also Read: Decoding Hybrid Mutual Funds: What are they and who should
Read more on financialexpress.com