
Summary:
According to a MeitY analysis published on January 22, 2023, India’s digital economy is expected to grow nearly twice as fast as the overall economy, contributing over 20% to national income by 2029-2030. Titled Estimation and Measurement of India’s Digital Economy, the report evaluates the digital sector’s impact on national revenue and employment, emphasizing its transformative potential to surpass agriculture and manufacturing in less than six years.
In 2022-23, India’s digital economy accounted for 11.74% of national revenue, equivalent to Rs. 28,94,000 crore (US$ 334 billion) in GVA and Rs. 31,64,000 crore (US$ 366.06 billion) in GDP. This share is projected to rise to 13.42% by 2024-25. Key growth sectors include information services, telecom, and electronics manufacturing, which contribute 7.83% of total national GVA. The sector employed 14.67 million people, or 2.55% of the workforce.
Source: IBEF
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