The Indian growth story has many dimensions to understand, and the digitalisation of the economy is an issue of significant discussion among academia, corporates and practitioners. If we discuss the Digital India initiative, it has played a crucial role in the growth of India's digital economy. Currently valued at $300 billion, it is projected to reach $1 trillion by FY27, significantly contributing to the country's GDP. India's digital transformation is rapid and notable, covering various sectors of the economy and advanced technologies. This perception is shown in India’s Digital Economy Report 2024, which applied the Connect - Harness - Innovate - Protect - Sustain (CHIPS) framework to compare India's progress with G20 countries and Indian states, where India ranks third among G20 nations. Factors like precision farming drive this transformation, the use of IoT tools, Cloud computing tools, Artificial Intelligence, electronic databases and payment methods, digitalised financial system, girl child schemes, make in India initiative, E-NAM initiative, skill India online skill development courses and training, MOOCs, scholarships for education and funding for different projects, smart infrastructure and Industry 5.0 for automation of manufacturing process and a smart ecosystem, developments of smart cities as a solution to increased population, traffic, resource consumptions and working communities. A great support to the self-startups, transparency in government reports, and a robust feedback system make the Digital India initiative successful.
Editor(s): Vikas Batra, Reena Hooda
Format: Single-Component Retail Product (Book)
Year of Publication: 2024
Publisher Name: National Press Associate
