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India's digital economy to contribute a fifth of national income by 2030: Govt

Economic Times

Economic Times · 7m ago

India's digital economy to contribute a fifth of national income by 2030: Govt

India’s digital economy is poised to grow nearly twice as fast as the overall economy, contributing one-fifth of the national income by 2030, as per the Ministry of Electronics and Information Technology. Digital intermediaries, platforms, and sectors such as cloud services and global capability centers are driving this growth. While digital transactions dominate banking, other traditional sectors are experiencing uneven digitalization. The digital economy’s growth rate is significantly outpacing the overall economic growth.

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TiE Delhi-NCR’s India Internet Day 2025 Celebrates Indicorn Surge; AI, Fintech & More Discussed

OutlookIndia

OutlookIndia · 3m ago

TiE Delhi-NCR’s India Internet Day 2025 Celebrates Indicorn Surge; AI, Fintech & More Discussed

India Internet Day 2025, organized by TiE Delhi-NCR, gathered policymakers, investors, and tech leaders to discuss India's digital future. The event aimed to propel India toward its $1 trillion digital economy target by 2030. Discussions centered around AI, fintech, 5G, and digital public infrastructure. The growing digital economy is projected to account for one-fifth of India's GDP by 2029, with rural internet adoption playing a crucial role in achieving this growth.

Digital public infra could boost India's GDP to $8 trillion by 2030: Report

Livemint

Livemint · 1y ago

Digital public infra could boost India's GDP to $8 trillion by 2030: Report

Digital public infrastructure (DPI) has the potential to boost India's economy to $8 trillion by 2030, as per a report by Nasscom and Arthur D Little International. Mature and budding DPIs, which include digital networks like Aadhaar and UPI, could propel India towards its goal of becoming a $1 trillion digital economy. The report suggests that if successfully adopted, DPI could contribute between 2.9% and 4.2% of GDP by 2030, compared to 0.9% in 2022. The Ayushman Bharat Digital Mission and the Open Network for Digital Commerce are expected to drive the value increase. However, challenges like stakeholder connection and limited reach need to be addressed.

Construction, travel among 18 sectors to ring in $2 trillion revenue

Economic Times

Economic Times · 2m ago

Construction, travel among 18 sectors to ring in $2 trillion revenue

A McKinsey report identifies 18 transformative sectors, such as urban construction, travel, and tourism, and renewable energy, which could generate $1.7-2 trillion in revenue for India by 2030. These sectors represented $690 billion in revenue in 2023 and could contribute 30% of India's incremental GDP by 2040, aiding its goal of becoming a developed economy by 2047. Urban construction is expected to bring in $400-490 billion by 2030.

India’s digital economy expanding at twice the speed of overall economy: report

Economic Times

Economic Times · 6m ago

India’s digital economy expanding at twice the speed of overall economy: report

India's digital economy is outpacing the overall economy, projected to account for one-fifth of the GDP by 2029, according to a report by Prosus and ICRIER. The nation ranks as the third most digitised globally, leveraging its young population, mobile internet growth, and digital public infrastructure like UPI and Aadhaar. However, India lags behind the US and China in AI, needing investments and policies to build competitive AI capabilities, suggesting a collaborative focus on sustainable digital growth.

India has many possibilities in energy sector in next five years, PM Modi tells investors

YourStory

YourStory · 6m ago

India has many possibilities in energy sector in next five years, PM Modi tells investors

Prime Minister Narendra Modi urged investors to explore opportunities in India's energy sector, emphasizing the country's renewable energy goals of achieving 500 GW capacity and producing 5 million tons of green hydrogen by 2030. Speaking at India Energy Week 2025, Modi highlighted India's strategic position, economic strength, and commitment to global sustainability. He noted India's achievements over the past decade, such as becoming the fifth largest economy and increasing solar capacity significantly, while stressing India's role in driving global growth.

Digital economy to contribute 20% of India's GDP by 2026: MoS IT Rajeev Chandrasekhar

Economic Times

Economic Times · 1y ago

Digital economy to contribute 20% of India's GDP by 2026: MoS IT Rajeev Chandrasekhar

According to Union Minister Rajeev Chandrasekhar, the digital economy is expected to contribute 20% of India's GDP by 2026. He mentioned that the digital economy has already grown from 4.5% to 11% of the GDP since 2014. India has transformed from being a consumer of technology to a producer of devices, products, and platforms for the world. Chandrasekhar believes that the next decade will be full of opportunities for startups and innovation in India.

Tech sector key to becoming a $7 trillion economy by 2030: Nasscom's Rajesh Nambiar

Economic Times

Economic Times · 4m ago

Tech sector key to becoming a $7 trillion economy by 2030: Nasscom's Rajesh Nambiar

As India aims to become a $7 trillion economy by 2030, the tech sector is crucial, projected to contribute $1 trillion to the GDP by driving innovation and solving global problems, according to Nasscom's Rajesh Nambiar. Emphasizing India's third-largest startup ecosystem, he highlights the need for technological sovereignty, enhanced R&D, and fostering deep tech. The Startup Mahakumbh will showcase these efforts, with participation from global industry leaders.

India to overtake Japan as the 2nd largest economy in Asia by 2030: S&P Global

IndianStartupNews

IndianStartupNews · 1y ago

India to overtake Japan as the 2nd largest economy in Asia by 2030: S&P Global

India is on track to become the world's third-largest economy by 2030, with a projected GDP of $7.3 trillion, surpassing Japan, according to S&P Global Market Intelligence. The Indian economy is expected to grow by 6.2-6.3% in the fiscal year ending March 2024, making it the fastest-growing major economy. India's robust domestic demand and a burgeoning middle class are significant drivers of this growth, attracting multinational corporations across various sectors. Digital transformation and increased internet access are also set to reshape the consumer market landscape. India's growth is poised to make it a pivotal market for multinationals.

India better poised for growth, leveraging artificial intelligence

Economic Times

Economic Times · 1y ago

India better poised for growth, leveraging artificial intelligence

A panel of industry leaders including Bill Winters (CEO of Standard Chartered Bank) and Ravi Kumar S (CEO of Cognizant) believe that India's economy has the potential to become a global leader by leveraging technologies like artificial intelligence. They noted that India's strong and inclusive digital infrastructure, coupled with its entrepreneurial spirit, positions it advantageously in the disrupted world economy. However, they highlighted the need for further reforms and accelerated growth for India to reach comparable income levels with other economies.

Government aims to make J&K Rs 1 trillion agricultural economy by 2030: LG Manoj Sinha

Economic Times

Economic Times · 2m ago

Government aims to make J&K Rs 1 trillion agricultural economy by 2030: LG Manoj Sinha

Lieutenant Governor Manoj Sinha announced the government's initiative to transform Jammu and Kashmir into a Rs 1 trillion agricultural economy by 2030. This strategy is part of a broader effort to empower farmers in J&K, supporting their prosperity and aligning with India's goal of becoming a developed nation by 2047. The initiative includes increasing rural employment and farmer income, with special attention to tribal farming communities and expanding benefits under the PM Fasal Bima Yojana for horticulturists.

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