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India’s Digital Economy Predicted to Surge 20% of GDP by 2027: Rajeev Chandrasekhar

1 month ago
thedialog
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India's Digital Economy Predicted

Picture Credit: Designed by Freepik

India’s digital economy is on the brink of substantial growth, with expectations to represent one-fifth of the nation’s total economic activity by 2027, Union Minister Rajeev Chandrasekhar said during an event in New Delhi on Monday. 

Chandrasekhar, serving as the Minister of State for Electronics and IT, underscored the rapid pace of development, stating, “The digital economy, which accounted for 4.5% of GDP in 2014, has surged to 12% today, and is forecasted to hit 20% by 2026-27.” 

 

Addressing future priorities, Chandrasekhar delineated key sectors for advancement, encompassing electronics, micro-electronics, protection intelligence, telecommunications, high-performance computing, semiconductors, cybersecurity, the evolution of the internet, and strides in automotive and electric vehicles (EVs). 

In recent months, the Indian government has intensified efforts to bolster India’s semiconductor capabilities, aiming to satisfy domestic demand and integrate seamlessly into the global supply chain.

“Our objective is to achieve a $1 trillion digital economy by 2027-28,” stressed the Minister, highlighting the Prime Minister’s commitment to fostering investments in both public and private domains to fortify the digital landscape.