One may think that it is only the Indians who run after the International content and platforms, but a shocking report says that the reverse is also true.
Razorpay, a prominent Payments and Banking Platform in India, has unveiled its inaugural International Payments Report, aiming to analyze the impact of global transactions on Indian businesses.
The report, titled ‘From India to the World,’ examines a vast dataset of over 10 million transactions processed on the Razorpay platform between April 1, 2021, and July 31, 2023.
The analysis showcases a remarkable surge in online international payments during 2022-23, compared to the preceding year (2021-22), which serves as a benchmark. The findings indicate that while digital payments gained momentum in 2021, they experienced an explosive growth in 2022-23.
This period also witnessed India’s noteworthy achievements, from producing blockbuster movies like RRR and KGF 2 to the successful launch of Chandrayaan-3. Furthermore, Indian OTT platforms saw a massive 194% increase in revenue from international viewers over the last two years, accompanied by a staggering 361% surge in international transactions.
It is important to know that it is not just because of entertainment OTT platforms that contributed to it. The famous Ed-Tech start-ups were also significant contributors. With a thriving ecosystem of over 4,450 ed-tech startups, Indian e-learning businesses have transformed classrooms for the 21st century. Notably, there has been a 51% surge in international sales for e-learning platforms over the past year.
In essence, the report sheds light on the dynamic trends and implications of international transactions on Indian businesses, underscoring the nation’s remarkable achievements across various sectors.