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Mapping technology driving economic growth in India: Report

Indian geo services industry is
driving country’s economic growth by helping businesses in revenue generation
and creating jobs. In 2011, the industry generated $3 billion in revenue while
accounting for approximately 1, 35,000 jobs. The impact of the geo services
industry is valued at approximately 15 times its own size stated a Boston Consulting Group (BCG) report
commissioned by Google.

Indian geo services industry is
driving country’s economic growth by helping businesses in revenue generation
and creating jobs. In 2011, the industry generated $3 billion in revenue while
accounting for approximately 1, 35,000 jobs. The impact of the geo services
industry is valued at approximately 15 times its own size stated a Boston Consulting Group (BCG) report
commissioned by Google.

Geo services helped Indian businesses
drive $40-45 billion in revenue, save $70-75 billion in costs and affect 8-9
million jobs in India. The report titled “What is the economic impact of geo services‘ also found that Indian consumers are also
willing to pay $1.5-2 billion more than they currently do for geospatial services
such as online maps, navigation systems and local searches.

Lalitesh Katragadda, Country Head –
India Product, Google said, “Geo services helped generate $2 billion in revenue
within the Indian accommodation and food services industry alone. In the
report, restaurants reported benefitting from new customers finding them
through local searches. Users benefit as it makes it easier for them to find
the information on local offerings and creating valuable efficiencies in their
day-to-day lives.”

This industry is comprised of
companies that process the location data, companies that produce geo-enabled software
and expert industries that use geospatial data to generate insights. Beyond that,
businesses like Meru Cab, India’s largest cab provider oversee over 20,000
trips a day across the four massive metros of Mumbai, Delhi, Hyderabad and
Bangalore — using geo services, they’ve pioneered the concept of GPS-enabled
taxis in India, using a GPS-based tracking system to identify match customers
with the nearest cab and swiftly scheduling pickups.

“As seen in the variety of case
studies we’ve used in the report, geo services have the ability to transform
all aspects of life from business to government,” said Prashant Agrawal, one of
the BCG consultants who worked on the report. “Currently, geo services
represent 0.2% of India’s GDP and affect 2% of the national workforce; however
there is tremendous room to grow this industry and create a lasting source of
competitive advantage for India.”

The report stresses on the increased
need of investment in this nascent industry along with support of open data
policies, product innovation, better satellite technology and pushing for more
geography education programs in schools.

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