We should grab opportunities held out by uncertainty

Clarity of vision must go with openness to innovation. Five major trends have much to offer India

- RITA MCGRATH & M. MUNEER

The year 2025 is likely to challenge deeply held business assumptions. The pace of change, driven by technology, geopolitical dynamics and evolving societal priorities, will ensure that uncertainty is the only constant. But times of upheaval, as history has shown, also offer extraordinary opportunities. For India Inc and Indian policymakers, embracing uncertainty is the key to survival and success. Here are five major trends reshaping the world and how India can leverage them.

The age of dematerialization: Arthur C. Clarke once remarked, "Any sufficiently advanced technology is indistinguishable from magic." Today, this 'magic' manifests in dematerialization, where physical objects are replaced by digital solutions. Consider banking: the Unified Payments Interface (UPI) processes over 14 billion monthly transactions, rendering cash and physical wallets nearly obsolete. With payment apps easy to use on mobile phones, making payments is as simple as scanning a QR code.

In the music industry, cassette tapes and CDs have been replaced by online platforms like Spotify and Wynk, offering millions of songs at minimal cost. Globally, streaming contributes over 80% of music revenue, yet most artists receive a small share, with platforms taking the bulk. Healthcare in India is also experiencing dematerialization. Startups like Dozee turn ordinary beds into remote health monitors using AI, providing affordable diagnostics without traditional set-ups. The demat trend offers convenience, but disrupts old industries and reshapes value chains. Adapting to this digital shift is vital for businesses to thrive.