Source: ET Bureau
The consulting firm said that India’s goal of reaching $5 trillion economy is heavily banking on digital adoption.
Consulting company EY estimates that digital technologies have the potential to create $one trillion economic value, contributing 20% to the country’s nominal GDP, sustaining 60-65 million jobs by 2025.
“India is at an inflection point – digital has changed the way people communicate, socialize, create, sell, shop and work. ‘What comes next’ will be determined by the continued focus on fostering innovation, developing unique service offerings and enabling the digital infrastructure in the country which will help us achieve or even exceed the $one trillion target. India is poised to be a game-changer in the world digital economy by empowering its citizens and revolutionizing businesses,” said Prashant Singhal, Emerging Markets TMT Leader, EY.
The consulting firm said that India’s goal of reaching $5 trillion economy is heavily banking on digital adoption. “Internet is the primary enabler of the digital economy – by 2025, India is expected to have 90% internet penetration with 850 million users, with rural base growing 2.5 times as compared to the urban base,” said EY in its statement on Monday.
In its report, EY, expects e-commerce and consumer internet sectors to reach $200 billion by 2027 and continue to accelerate with new digital services as well as remain attractive to investors.
