India's Digital Economy: Rapid Ascent to 20% of GDP by 2030

India's digital economy is on track to comprise nearly 20% of the nation's GDP by 2030, doubling the growth rate of the broader economy. This surge is driven by AI adoption and a robust global technology presence, with MoUs signed with over 53 countries to expand India's Digital Public Infrastructure model.

India's digital economy is poised to make up nearly a fifth of the nation's GDP by 2030, outpacing the growth of the wider economy, according to a government official.

S Krishnan, a Ministry of Electronics and IT (MeitY) Secretary, revealed that the sector, which currently contributes about 13% to GDP, could rise to 20% within the next seven years. This growth is expected to be propelled by faster adoption of Artificial Intelligence across various industries.

The country's global technology presence is expanding, with India signing Memoranda of Understanding (MoUs) with 53 nations to promote its Digital Public Infrastructure model. These efforts are expected to support innovations in AI, providing domestic players with affordable resources.

(With inputs from agencies.)