{"id":36040,"date":"2025-01-23T18:18:50","date_gmt":"2025-01-23T12:48:50","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=36040"},"modified":"2025-01-23T18:28:18","modified_gmt":"2025-01-23T12:58:18","slug":"india-digital-economy","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/23-01-2025\/india-digital-economy","title":{"rendered":"Estimation and Measurement of India\u2019s Digital Economy"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Ministry of Electronics and Information Technology (MeitY) has released a comprehensive report titled<strong> \u2018Estimation and Measurement of India\u2019s Digital Economy\u2019.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Methodologies: <\/strong>The report uses globally adopted methodologies developed by the Organisation for Economic Co-operation and Development (OECD) and the Asian Development Bank (ADB)<strong>.<\/strong><\/li>\n\n\n\n<li>The report is an attempt to compile the<strong> first set of credible, comprehensible, and current estimates of India\u2019s digital economy.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Major Highlights&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India\u2019s digital economy<\/strong> stood at 11.74% of the national income in 2022-23 and is likely to rise to 13.42% by 2024-25.<\/li>\n\n\n\n<li><strong>Growth:<\/strong> India\u2019s digital economy is expected to <strong>grow almost twice<\/strong> as fast as the overall economy, contributing to nearly <strong>one-fifth of national income by 2029-30.&nbsp;<\/strong>\n<ul class=\"wp-block-list\">\n<li>In less than six-years, the share of the digital economy will become larger than that of agriculture or manufacturing in the country.&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-dominant-color=\"e7e9e9\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"715\" height=\"404\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/01\/gva-of-india-digital-economy-2022-23.webp\" alt=\"gva-of-india-digital-economy-2022-23\" class=\"not-transparent wp-image-36045\" style=\"--dominant-color: #e7e9e9; width:505px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/01\/gva-of-india-digital-economy-2022-23.webp 715w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/01\/gva-of-india-digital-economy-2022-23-300x170.webp 300w\" sizes=\"auto, (max-width: 715px) 100vw, 715px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Employment Generation: <\/strong>In 2022-23, the digital economy accounted for 14.67 million workers, or 2.55% of India\u2019s estimated work force.&nbsp;<\/li>\n\n\n\n<li>India\u2019s digital economy is <strong>steadily moving beyond the realm of the ICT <\/strong>industries, diffusing across all parts of the economy.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>Facts Related to Digital Economy of India<\/strong><br>&#8211; <strong>Mobile subscription:<\/strong> India stands second in the world after China of the estimated 8.36 billion mobile cellular users worldwide.\u00a0<br>&#8211; <strong>5G deployment: <\/strong>According to Ericsson\u2019s Mobility report, at the end of 2023, 10% of India\u2019s population had subscribed to 5G.\u00a0<br>1. India became the <strong>second largest market for 5G smartphones<\/strong> in the first half of 2024, following China.\u00a0<br>&#8211; <strong>Digital payments:<\/strong> Over 1644 billion digital transactions took place in India in FY 2023-24, the highest volume for a country.<br>&#8211; <strong>ICT service exports:<\/strong> In 2023, India\u2019s ICT services exports stood the second highest in the world behind Ireland.\u00a0<br>&#8211; <strong>AI projects:<\/strong> India\u2019s contribution to GitHub for AI projects is the highest in the world, at 23%, followed by the US (14%).\u00a0<br>&#8211; <strong>Unicorns:<\/strong> As of April 2024, the third largest number of homegrown unicorns by country were in India, following the US and China.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Recommendations for the Growth of Digital Economy<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Minimise regulatory uncertainty for digital platforms and intermediaries.<\/li>\n\n\n\n<li>Adopt collaborative and concerted efforts for digital literacy and skilling.<\/li>\n\n\n\n<li>Improve the ease of doing business.<\/li>\n\n\n\n<li>Enhance cybersecurity and trust.<\/li>\n\n\n\n<li>Make continued efforts towards building resilient fixed-line broadband networks to supplement mobile coverage.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/indias-digital-economy-to-contribute-a-fifth-of-national-income-by-2030-govt\/articleshow\/117466347.cms?from=mdr\" rel=\"nofollow noopener\" target=\"_blank\"><strong>ET<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Electronics and Information Technology (MeitY) has released a comprehensive report titled \u2018Estimation and Measurement of India\u2019s Digital Economy\u2019.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36040","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=36040"}],"version-history":[{"count":4,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36040\/revisions"}],"predecessor-version":[{"id":36058,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36040\/revisions\/36058"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=36040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=36040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=36040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}