He mentioned that the path of purchase has changed in India and people are increasingly using online platform for retail purchase.

Talking about the next big technology wave in the world, he said wearable gadgets are expected to take four years to reach a billion consumers.

"Everything is getting accelerated with technology. Every new wave of technology has taken half as long as the previous technology. The next big thing will take half the time taken by smartphones," he said.

Smartphones took eight years to reach a billion consumers.

"The future is here. Wearable devices are the next big thing. It is taking on computing. All these wearable devices will penetrate across the world very fast, and with it technology will get better and better," he added.

He also mentioned that software will impact traditional industries in a big way in the coming days. "Like the automotive industry has not changed much in the last 50 years. The next big thing that could happen is the driverless car. In the next 20 years, in our lifetime, software can do anything," Anandan said.

He pointed out that consumers are now connected through numerous devices like television, notebooks, laptops, smartphones and wearable devices as well.

In 2014, 2.8 billion people in the world out of seven billion are connected through the Internet. By 2020, it is expected that five billion people will be using the Internet.

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