New Delhi: India’s digital economy is projected to contribute nearly one-fifth of the country’s overall economy by 2030. Over the past decade, digital-enabling industries have grown at 17.3 per cent. This higher than the 11.8 per cent growth rate of the economy as a whole. ‘State of India’s Digital Economy Report 2024’ showed this.
As per the report, digital platforms, in particular, have expanded rapidly, with an anticipated growth rate of approximately 30 per cent in the coming years.
India’s digital economy has emerged as a significant contributor to its economic growth, accounting for 11.74 per cent of the GDP (Rs 31.64 lakh crore or $402 billion) in 2022-23. Projections indicate the digital economy’s share will grow to 20 per cent of gross value added (GVA) by 2029-30. The Key growth drivers include the rapid adoption of AI, cloud services, and the rise of global capability centers (GCCs), with India hosting 55 per cent of the world’s GCCs.
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In 2022-23, the digital economy accounted for 14.67 million workers, or 2.55 per cent of India’s workforce, with the majority of these jobs (58.07 per cent) in the digital-enabling industry.
According to the report, India is the third largest digitalised country in the world in terms of economy-wide digitalisation, and 12th among the G20 countries in the level of digitalisation of individual users.
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