Ministry of Electronics & IT

Report on "India’s Trillion Dollar Digital Opportunity" to be released today

Posted On: 20 FEB 2019 1:00PM by PIB Mumbai

With a strong foundation of digital infrastructure and expanded digital access through Digital India Programme of the Government of India, India is now poised for the next phase of growth — creation of tremendous economic value and empowerment of citizens, as new digital applications permeate sector after sector.

The document ‘India’s Trillion Dollar Digital Opportunity’ will be released by Union Minister for Electronics & Information Technology and Law & Justice, Shri Ravi Shankar Prasad at Grand Hyatt Hotel, Mumbai today.

India’s Trillion-Dollar Digital Opportunity’ is an endeavour of Ministry of Electronics and Information Technology (MeitY) to present India’s Digital Vision and the potential of India to attain $1 trillion of economic value of digital economy by 2025. The report builds on research collaboration with McKinsey & Company. The primary objectives of this study are to recognise progress made by India on digital adoption and to identify future steps; to articulate the vision, potential size, and drivers of India’s digital economy of the future; and to determine what needs to be done to ensure further progress.

India can create up to $1 trillion of economic value from the digital economy in 2025, up from around $200 billion currently

  • India’s digital consumer base is the second largest in the world and growing at the second-fastest rate amongst major economies. India’s inclusive digital model is narrowing the digital divide within the country and bringing benefits of technology to all segments of people.
  • Half the potential economic value of $1 trillion in 2025 could come from new digital ecosystems in diverse sectors, including financial services, agriculture, healthcare, logistics, jobs and skills market, e-governance and other areas.

This fact-based report is a collaborative effort undertaken over the past year, with data, inputs and case studies drawn from a wide range of government, business and civil society entities.

India’s digital story is one of an ICT - led development by use of technology that is affordable, inclusive and transformative. The Digital India Programme is transforming India into a knowledge-based economy and a digitally empowered society.

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DJM

 



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