Rajeev Chandrasekhar, India’s Minister of State for Electronics and Information Technology, predicted on Thursday that the digital economy will account for more than 20 percent of the country’s GDP by 2026.
Speaking at the G20 Digital Innovation Alliance Summit here, he said India is a par excellence country that has adopted technology very fast and has started offering solutions to the world.
“Digital economy has risen from 4-4.5% of GDP in 2014 to 11% today. We expect digital economy to account for more than 20% of GDP by 2026.” Chandrasekhar explain.
He said India embraced technology not just for innovation in a broader sense, but to deliver real solutions that have transformed people’s lives, governance and democracy over the past few years.
“The pace of digitization means we are now looking at every citizen, every consumer consuming a digital product or service, whether it’s Instagram reels or the digital commons infrastructure that connects them to government and governance, or using the cloud and all upstream and services. The sector and the downstream impact of digital trends,” the minister said.
Chandrasekhar said the “tech center of gravity” was once concentrated in a few countries and centered on a few companies, but now some companies are moving to open source systems to younger and younger startups that are Disturb normalcy.
These trends, he argues, in turn capitalize on broader trends of increased digitization.
The minister praised Prime Minister Narendra Modi’s vision to maximize the use of digital technology and said he dubbed the next decade “Techade”, a decade of technological opportunities.
Chandrasekhar said: “Our Prime Minister has admonished young Indians in many ways that ‘India Techade’ will be built, engineered, engineered and innovated by the determination, energy and creativity of young start-ups across the country and around the world.” .
(This story was not edited by NDTV staff and was automatically generated from syndicated feeds.)
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