According to the European Commission, the pace of digitalization in India was the fastest among most major economies between 2011 and 2019. In brief Between 2011 and 2019, digitalization in India grew neck to neck with China at 11%. Digitalization in India has been progressing steadily, first covering large urban areas, followed by smaller urban areas and rural areas. Digital growth in India is getting a further fillip now and would become a major factor in sustaining India’s long-term growth story. What is digital economy? First coined in the 1990s, the term digital economy has expanded in consonance with the transforming nature of technology to include digital technologies, products and services across a wide spectrum of sectors. Digitalization is by nature multidimensional. It requires a broad definition to cover all activities that use digitized data as a part of the digital economy (IMF, 2018). Joint collaborative research by Huawei and Oxford Economics pegged the size of the global digital economy to be around US$11 trillion i.e., 15.5% of global gross domestic product (GDP) in 2016 1 , which is expected to reach US$23 trillion (24.3% of global GDP) by 2025. Backward and forward linkages The ADB (2021) framework for […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
