India's Digital Economy: Driving the Future

India's digital economy is rapidly expanding, projected to contribute a fifth of the national GDP by 2030. Reports highlight fast-growing segments like cloud markets and GCCs. The ICT sector leads in GDP contributions, with significant ICT service exports. The trend shows increasing ICT integration into traditional industries.

India's digital economy is experiencing unprecedented growth, poised to contribute nearly one-fifth of national GDP by the end of this decade, according to a report by MEITy and ICRIER.

The report notes that segments such as cloud markets and Global Capability Centres (GCCs) are among the fastest-growing in this sphere. In 2022-23, the nation's digital economy already accounted for Rs 31.64 lakh crore of GDP.

Data indicates a promising future for ICT services, with exports reaching USD 162 billion in 2023. As AI and digital tools permeate traditional industries, sectors like BFSI and retail are undergoing significant digital transformations.

(With inputs from agencies.)