AUGUSTASIA BUSINESS OUTLOOK8NEWSINDIAN LOW CODE STARTUP TOOLJET ONBOARDS MICROSOFT & GITHUB AS INVESTORSINDIA IN POSITION TO BE THE MOST PROFITABLE EMERGING MARKET OF THE DECADEAs per Capital Group, one of the world's largest institutional investors and India's largest foreign portfolio investors, India's robust economic growth, political stability, and transformative reforms have put the country on track to become the breakout emerging market of the decade. The Capital Group manages $2.2 trillion in assets around the world. "India is known as the market that has perplexed both optimists and pessimists." Could this be its golden era? According to Brad Feer, ShlokMelwani, and Rahul Sadiwala in a recent report, "from our recent travels around the country, we believe indications are pointing in the right direction: corporate confidence is high, the economy is expanding at a decent clip, and technological innovation is leading to new areas of growth."The report illuminates the factors that distinguish India as an appealing investment destination when compared to other emerging markets. India's recent political stability, pro-business reforms, infrastructure development, manufacturing potential, growing equity market, investment opportunities, and demographic advantage are examples of these.Under Prime Minister NarendraModi's leadership, India has seen a series of pro-business reforms that have propelled growth and brought sweeping changes to the economy. Aadhaar, a biometric identification system, and the implementation of a national goods and services tax (GST) have streamlined processes, increased credit availability, and formalised previously unregulated industries. Furthermore, the implementation of the Unified Payments Interface (UPI) has transformed the payment system, benefiting both traditional banks and non-bank financial institutions. ToolJet, India's open-source low-code platform for developers, announced on July 17 that it has received funding from M12, Microsoft's venture fund, and GitHub through the M12 GitHub Fund to fuel its next stage of growth.The investment will be critical to ToolJet's strategic initiatives, which include expanding its workforce and advancing the platform's artificial intelligence capabilities, according to a statement from the company.ToolJet is poised to bolster its talented team with this infusion of resources by attracting top-tier talent across multiple domains.ToolJet aims to improve the intelligence of its platform by leveraging the power of artificial intelligence (AI), allowing developers to leverage advanced algorithms and automation to further streamline their development workflows.This strategic investment will allow ToolJet to accelerate innovation, furthering its mission to revolutionise software development and provide unparalleled value to its ever-growing user base."We're thrilled to have Microsoft and GitHub join us on our journey," said NavaneethPadannaKalathil, Chief Executive Officer of ToolJet. "Their investment is a testament to the strength of our platform, community, and our vision to democratise software development by making it more accessible to everyone".
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