By Press Trust of India | Updated: 17 August 2023
Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Thursday forecast that the digital economy will contribute more than 20 percent of the country’s GDP in 2026.
Addressing the ‘G20 Digital Innovation Alliance Summit’ here, he said India is a preeminent nation that adopted technology very fast and has started offering solutions to the world.
“The digital economy has gone from 4-4.5 percent in 2014 of the total GDP to 11 percent of the total GDP today. And we expect the digital economy to contribute over 20 percent of our GDP by 2026,” Chandrasekhar said.
According to him, India adopted technology not just for innovation in a broader sense, but to deliver real solutions that have transformed people’s lives, governance and democracy in the last few years.
“This pace of digitalisation means we are now looking at every citizen, every consumer consuming digital products or services, whether it is Instagram reels or Digital Public Infrastructure that connect them to the government and governance, or using the cloud and all of the upstream and downstream impacts that are created by this space and trend of digitalisation,” the minister said.
Chandrasekhar said ‘the centre of gravity of tech’, which used to be in a few countries and centred around a few corporations and a few companies is moving to open source systems to younger and younger startups that are disrupting the normal.
