Government to hire agency to estimate size of digital economy
1 year, 5 months ago

Government to hire agency to estimate size of digital economy

Deccan Chronicle  

New Delhi: The government is planning to hire an agency to measure the actual size of the digital economy which is estimated to be around USD 1 trillion by 2025, according to an official document. "The RFP aims to invite proposal in the area of estimation and measurement of India's digital economy including formulation of measurement framework, capturing data and identifying digital interventions," the document said. MeitY had earlier published a report titled 'India's Trillion Dollar Digital Opportunity' which identifies 30 digital themes ranging from IT infrastructure, software capabilities and healthcare education to next-generation financial services. According to a joint report by Google, Temasek and Bain & Company, India's internet economy alone is expected to register six-fold growth and touch USD 1 trillion by 2030.

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India achieves USD 1 trillion in FDI milestone | Top FDI sources and sectors
1 week, 3 days ago

India achieves USD 1 trillion in FDI milestone | Top FDI sources and sectors

India TV News  

India has reached a historic milestone with foreign direct investment inflows surpassing USD 1 trillion since April 2000, according to the Department for Promotion of Industry and Internal Trade. Top FDI sources: Small nations lead the pack Mauritius and Singapore dominate Mauritius emerged as the largest contributor, accounting for 25 per cent of FDI inflows, closely followed by Singapore at …

Digital Infrastructure: The Secret Weapon for India's Economic Ascent
2 months ago

Digital Infrastructure: The Secret Weapon for India's Economic Ascent

The Hindu  

Finance Minister Nirmala Sitharaman emphasizes the crucial role of digital infrastructure in propelling India's economic growth. She highlights the widespread adoption of digital infrastructure by the Indian people, which has facilitated access to essential services and empowered millions to benefit from various opportunities. The Minister emphasizes the transformative impact of the Digital Public Infrastructure (DPI), which has democratized access to …

Transforming India's Economy: The Power of Digital Public Infrastructure
2 months ago

Transforming India's Economy: The Power of Digital Public Infrastructure

Live Mint  

The article highlights the importance of digitalization in transforming India's economy. It emphasizes the role of open platforms and collaboration between the public and private sectors in building a robust digital infrastructure. The government's initiatives, such as the Unified Payments Interface (UPI) and the Open Network for Digital Commerce (ONDC), demonstrate the government's commitment to fostering a digital economy.

Lead in digital sector — how cool is that for China!
4 months, 2 weeks ago

Lead in digital sector — how cool is that for China!

China Daily  

The milk is packaged automatically. As the economy is transitioning from a phase of rapid growth to a new phase of high-quality development, the country is shifting its focus to emerging industries, creating new business models and fostering new growth drivers in a bid to promote the development of productive forces featuring high technology, high performance and high quality. China …

Lead in digital sector — how cool is that for China!
4 months, 2 weeks ago

Lead in digital sector — how cool is that for China!

China Daily  

By Ouyang Shijia | China Daily | Updated: 2024-08-05 09:15 The milk is packaged automatically. As the economy is transitioning from a phase of rapid growth to a new phase of high-quality development, the country is shifting its focus to emerging industries, creating new business models and fostering new growth drivers in a bid to promote the development of productive …

Digital economy poised to be 20% of GDP by 2026: RBI report
4 months, 3 weeks ago

Digital economy poised to be 20% of GDP by 2026: RBI report

New Indian Express  

MUMBAI: The sweeping digitisation of the financial markets and payments system will drive the country’s digital economy, which currently accounts for a tenth of the GDP, and constitute a fifth or 20 percent of the GDP by 2026 says a report prepared by the Reserve Bank. Although internet penetration was at 55 percent in 2023, the internet user base has …

Country to help digital economy to thrive
5 months, 2 weeks ago

Country to help digital economy to thrive

China Daily  

A visitor tries out a 3D camera during the Global Digital Economy Conference 2024 in Beijing, July 2, 2024. China will employ a raft of well-focused policy steps to foster a more enabling climate for the development of the digital economy, the State Council, the country's Cabinet, said on Friday. China's total data output reached 32.85 zettabytes in 2023, up …

Exploring value of data to boost sustainable development
8 months, 1 week ago

Exploring value of data to boost sustainable development

China Daily  

China is exploring the value of data as a factor of production to boost sustainable development. BEIJING - China is exploring the value of data as a factor of production to boost sustainable development, at a time when the emerging digital economy is creating new growth momentum through forging new production supply and consumer demand. Its scale of computing power …

Exploring value of data to boost sustainable development
8 months, 1 week ago

Exploring value of data to boost sustainable development

China Daily  

Xinhua | Updated: 2024-04-11 17:22 China is exploring the value of data as a factor of production to boost sustainable development. BEIJING - China is exploring the value of data as a factor of production to boost sustainable development, at a time when the emerging digital economy is creating new growth momentum through forging new production supply and consumer demand. …

Digital economy leaves imprint despite turbulence
9 months ago

Digital economy leaves imprint despite turbulence

China Daily  

A worker checks on seedlings at a digitalized plantation base in Chongqing on March 14. China, the experts said, offers a glimpse by placing the development of a digital economy at the top of the agenda and launching various measures to bridge the digital divide. In December, the National Development and Reform Commission and the National Data Administration jointly launched …

India to be third top economy in few years, says Nirmala Sitharaman
9 months, 1 week ago

India to be third top economy in few years, says Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on March 16 said India needs economic freedom to achieve developed nation status by 2047 and assured that the country would move to the third spot in the world economy from the current fifth position in the near future. ‘We should attain economic freedom’ Observing that India was a rich country about 400 years ago, …

Vantage | What India must do to be a $7 trillion economy by 2030
10 months, 3 weeks ago

Vantage | What India must do to be a $7 trillion economy by 2030

Firstpost  

As the Indian government gears up to present the annual budget in what is considered the last one ahead of the general election, the focus is on maintaining stability with an interim budget. In the next three years, India aims to secure its position as the world’s third-largest economy, targeting a GDP of $5 trillion dollars. Projections for India’s growth …

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar
1 year ago

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar

India TV News  

Gandhinagar: Union minister Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product by 2026. Rajeev Chandrasekhar on digital economy "In 2014, the digital economy was around 4.5 per cent of the GDP and today it is 11 per cent. India has now become fastest-growing digital economy The Union Minister asserted …

A $5 trillion economy, but for whom?
1 year, 1 month ago

A $5 trillion economy, but for whom?

The Hindu  

Last week, at an election rally in Chhattisgarh, Prime Minister Narendra Modi announced that he is extending the Pradhan Mantri Garib Kalyan Ann Yojna, a scheme providing 5 kg of foodgrains free every month to beneficiaries of the National Food Security Act, by five years because he does not want any citizen to sleep hungry. This is the year the …

Vantage | India isn't a $4 tn economy yet, but it's growth story is for real
1 year, 1 month ago

Vantage | India isn't a $4 tn economy yet, but it's growth story is for real

Firstpost  

While the viral screenshot turned out to be fake, India’s growth story is for real On 19 November, an unverified screenshot went viral. India: $3.75 trillion Currently, India is the world’s fifth largest economy, after the United States, China, Germany and Japan. He listed eight main challenges: Increasing investment Improving productivity Improving health and education Creating jobs Raising agriculture productivity …

Fiscal policies to help digital economy grow
1 year, 1 month ago

Fiscal policies to help digital economy grow

China Daily  

The Implementation Plan for Accelerating the High-quality Development of the Digital Economy in Qingdao was recently released, highlighting emerging areas such as digital industrialization and data elements to advance the digital economy. The plan proposes 22 fiscal support policies, with the goal of increasing the added value of the city's core digital economy industry by an average of 13 percent …

Rs 14,900-cr Push to Digital India Project
1 year, 4 months ago

Rs 14,900-cr Push to Digital India Project

Deccan Chronicle  

New Delhi: The government has approved an extension of the Digital India project, valued at over Rs 14,900 crore, spanning five years from 2021-2022 onwards. This development arrives amidst a context where the Digital India Programme faced a reduction in the budget estimate for the ongoing fiscal year in comparison to the revised estimate of the previous year. Whereas the …

How Much is India’s ‘Digital Economy’ Worth? In a First, Modi Govt to Measure in Next 9 Months
1 year, 5 months ago

How Much is India’s ‘Digital Economy’ Worth? In a First, Modi Govt to Measure in Next 9 Months

News 18  

The Narendra Modi-led central government, for the first time, will measure the size of India’s ‘digital economy’. The government has put prime focus on ‘digitalisation’ but the measurement of the ‘digital economy’ has not been institutionalised in India. According to senior officials, an exercise will be conducted over the next nine months involving “estimation and measurement of India’s digital economy”, …

India’s GDP has touched $3.75 trillion-mark in 2023: Nirmala Sitharaman
1 year, 6 months ago

India’s GDP has touched $3.75 trillion-mark in 2023: Nirmala Sitharaman

Live Mint  

India's gross domestic product has touched the $3.75 trillion-mark in 2023 so far from around $2 trillion in 2014, said finance minister Nirmala Sitharaman on June 12. Recent government data revealed that India's GDP grew by 6.1 per cent in the fourth quarter of fiscal year 2022-23 beating Street estimates. Recently, ratings agency Moody's estimated the Indian economy to clock …

India tops in digital payments, records 89.5 mn transactions, says MyGovInd
1 year, 6 months ago

India tops in digital payments, records 89.5 mn transactions, says MyGovInd

Live Mint  

India global rankings in digital payments for the year 2022, according to data from MyGovIndia. As per the data, India in the year 2022 accounting for 46 per cent of the global real-time payments, adding that the digital payment transactions in India is more than the other four leading countries combined. In digital payments, India has been witnessing new milestones, …

Internet economy to become 12–13% of GDP by 2030: Report
1 year, 6 months ago

Internet economy to become 12–13% of GDP by 2030: Report

The Hindu  

India’s internet economy — B2C e-commerce firms, online service providers, ed-tech companies, and so on — will hit $1 trillion in value by 2030, up from $175 billion in 2022, a report by Google, Bain & Company and Temasek estimated. The key thrust would come from “Tier 2+ locations,” the report said, emphasising smaller towns and rural areas, where the …

Over 50% Indians are active internet users now; base to reach 900 million by 2025: report
1 year, 7 months ago

Over 50% Indians are active internet users now; base to reach 900 million by 2025: report

The Hindu  

For the first first more than half of Indians, 759 million citizens, are active internet users and access the internet at least once a month, a joint report by industry body IAMAI and market data analytics firm Kantar said on May 3. This is for the first time that the majority of Indians have become active internet users," the Internet …

E-commerce surge: India to add 80 million online shoppers by 2025
1 year, 8 months ago

E-commerce surge: India to add 80 million online shoppers by 2025

Live Mint  

New Delhi: India has gained 125 million online shoppers in the past three years, with another 80 million expected to join by 2025, according to a report by marketing data and analytics company Kantar. The increasing online presence is expected to boost e-commerce sales, as 77 million shoppers purchased from social platforms such as Facebook, WhatsApp and social-commerce sites in …

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records
1 year, 10 months ago

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records

News 18  

The number of digital transactions in India in this financial year is at a historic high, zooming past the last fiscal’s figure with still three months to go. The latest government data reveals that 9,192 crore digital transactions have been done in the country in this financial year till December 31, 2022. The total value of digital transactions in India …

Economic Survey 2023 UPI-Based Transaction Sees 121 Pc Growth Between 2019-22 Nirmala Sitharaman Union Budget
1 year, 10 months ago

Economic Survey 2023 UPI-Based Transaction Sees 121 Pc Growth Between 2019-22 Nirmala Sitharaman Union Budget

ABP News  

The Economic Survey was tabled in Parliament on Tuesday by Finance Minister Nirmala Sitharaman, kicking off the Budget 2023 session. The Survey also noted that Unified Payments Interface has seen a great boost in recent years, registering a growth in value as well as volume, in turn leading to global adoption. The survey noted that between 2019 and 2022, UPI-based …

India expected to become USD 7 trillion economy in seven years: Chief Economic Advisor
1 year, 11 months ago

India expected to become USD 7 trillion economy in seven years: Chief Economic Advisor

India TV News  

The Indian economy will be USD 3 trillion by the end of the current 2022-23 fiscal and is expected to be USD 7 trillion in the next seven years, said Chief Economic Advisor V Anantha Nageswaran said on Monday. "In these contexts, the Indian economy will be of the size of USD 3 trillion at the end of March 2023 …

Ningbo unveils five-year action plan for digital economy
2 years ago

Ningbo unveils five-year action plan for digital economy

China Daily  

A workshop in Ningbo, East China's Zhejiang province. Ningbo in East China's Zhejiang province recently unveiled a five-year action plan for the development of the city's digital economy. According to the plan released by the Ningbo Municipal Bureau of Economy and Information Technology on Dec 7, Ningbo aims to lift both the added value of the digital economy and the …

India will become $40 trillion economy by 2047, says Mukesh Ambani; spells out 3 big mantras
2 years, 1 month ago

India will become $40 trillion economy by 2047, says Mukesh Ambani; spells out 3 big mantras

Firstpost  

During his virtual address at the 10th Convocation of Pandit Deendayal Energy University, Mukesh Ambani stressed that concerns over climate change must be addressed as India strives to achieve economic progress Gandhinagar : Asserting that India will become a $40 trillion economy by 2047, Reliance Industries Chairman Mukesh Ambani said that three revolutionary shifts - Clean energy, bio-energy, and the …

Qingdao ranks 13th among China's 100 cities for digital economy
2 years, 1 month ago

Qingdao ranks 13th among China's 100 cities for digital economy

China Daily  

Qingdao boasts a vibrant economy. CCID Consulting, a market research firm, recently released the 2022 China Digital Economy Development Research Report and the list of China's top 100 cities in terms of the development of their digital economies. Data shows that the scale of China's digital economy soared from 11 trillion yuan in 2012 to 45.5 trillion yuan in 2021, …

G20 offers India chance to be the architect of a new digital economy
2 years, 1 month ago

G20 offers India chance to be the architect of a new digital economy

Live Mint  

There are decades where nothing happens; and there are weeks where decades happen." And as the rules of a new digital world are written, India’s G20 presidency for 2023 will offer us a platform to showcase our success story of ‘best known practices’ that others can learn from. India is well poised today to lead the creation of a global …

Indian FinTech market to reach $1 trillion by 2030, says CEA
2 years, 3 months ago

Indian FinTech market to reach $1 trillion by 2030, says CEA

The Hindu  

“India is among the fastest growing fintech markets in the world with a market size of $31 billion in 2021 that is expected to reach $1 trillion by 2030,” said V. Anantha Nageswaran, Chief Economic Advisor of India, Ministry of Finance, Government of India. “The next wave in the fintech sector could be the cash flow lending to MSMEs using …

India@75: IT sector’s historic rise since Independence to become a global powerhouse
2 years, 3 months ago

India@75: IT sector’s historic rise since Independence to become a global powerhouse

Firstpost  

Considering its fast growth pace, India is at the centre of global IT attraction with players betting big on the future of IT in India Technology has changed the way we communicate, pay bills, commute, interact with governance, and even the way we perceive entertainment. Our government’s flagship initiative, Digital India, has aided in spreading internet access in the remotest …

Indian economy 'can touch USD 20 trillion by 2047'
2 years, 3 months ago

Indian economy 'can touch USD 20 trillion by 2047'

Firstpost  

India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation New Delhi: Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said Indian economy’s size will touch USD 20 trillion by 2047 provided the annual average growth is 7-7.5 per cent in the next 25 …

We are well placed to let fintech lead the success of Digital India
2 years, 4 months ago

We are well placed to let fintech lead the success of Digital India

Live Mint  

From a 6.6% contraction in 2020-21, the Indian economy recorded a sharp rebound of 8.7% growth in 2021-22, by provisional estimates. The Niti Aayog report, India’s Booming Gig and Platform Economy, has underscored the role of fintech and a regulatory sandbox regime in helping India achieve its $5 trillion target. Broadly, the fintech sector is regulated under five regulations: the …

Expecting 7.5 pc economic growth rate this year: Modi
2 years, 6 months ago

Expecting 7.5 pc economic growth rate this year: Modi

Deccan Chronicle  

New Delhi: Ahead of the virtual BRICS Summit to be hosted by China starting on Thursday, Prime Minister Narendra Modi told the BRICS Business Forum on Wednesday that India is the fastest growing major economy with an expected 7.5 per cent growth this year. He credited the government’s "reform, perform and transform" mantra for the achievement and added that by …

$1-trillion scope for digital economy: PM Modi
2 years, 6 months ago

$1-trillion scope for digital economy: PM Modi

The Hindu  

India's digital economy and the infrastructure sector has a total potential for $2.5 trillion, Prime Minister Narendra Modi said on Wednesday. Addressing the meeting of the BRICS Business Forum, Mr. Modi said the digital transformation unfolding in India has never before been seen on the world stage. The value of the Indian digital economy will reach $1 trillion by 2025,” …

India’s success based on technology-led growth with innovation, startups: PM Modi at BRICS Business Forum
2 years, 6 months ago

India’s success based on technology-led growth with innovation, startups: PM Modi at BRICS Business Forum

India TV News  

Highlights India supports innovation across every sector, PM Modi said during BRICS Business Forum This year we are expecting 7.5% growth, which makes us the fastest-growing major economy, PM said By 2025, India's digital sectors value will cross $1 trillion valuations, PM Modi mentioned Prime Minister Narendra Modi on Wednesday said India’s success is based on technology-led growth with innovation …

27.3 Million People In India Need Digital Skill Training Immediately: Report
2 years, 6 months ago

27.3 Million People In India Need Digital Skill Training Immediately: Report

ABP News  

New Delhi: Over 27 million people in India are required to be imparted digital skills especially in cloud related technologies to unlock USD 1 trillion digital economy potential by 2025 as well as to enable the country to compete at global level, a senior Amazon Web Services official said on Wednesday. While sharing updates of the cloud skilling programme aimed …

Manufacturers embrace the digital economy
2 years, 7 months ago

Manufacturers embrace the digital economy

China Daily  

A visitor tries her hand on a driving simulator using digital technologies at the recent 2021 CIFTIS in Beijing. Effective measure Liu Qingfeng, chairman of iFlytek, a front-runner in the intelligent speech and AI industry, said new infrastructure projects such as 5G networks and data centers are crucial for developing the digital economy. "Digital transformation will also bring new opportunities …

Manufacturers embrace the digital economy
2 years, 7 months ago

Manufacturers embrace the digital economy

China Daily  

A worker displays smart monitoring equipment at the expo on June 24. Haier's digitalization drive offers a glimpse of how Chinese manufacturers, especially those in traditional industries, are embracing the digital economy, which is mainly represented by emerging information technologies and has become a key engine driving economic growth. Experts said the nation's greater emphasis on the sound development of …

India’s digital economy to see exponential growth to $800 bn by 2030: FM
2 years, 9 months ago

India’s digital economy to see exponential growth to $800 bn by 2030: FM

Live Mint  

India's digital economy is expected to witness exponential growth to $800 billion by 2030 on the back of rising internet penetration and increasing income, Finance Minister Nirmala Sitharaman said on Friday. "They may function from one place but they may serve any number of districts but we are also targeting 75 districts to be covered and I guess the DPU …

Plan focuses on digital economy development during 14th Five-Year Plan period
2 years, 11 months ago

Plan focuses on digital economy development during 14th Five-Year Plan period

China Daily  

A time tunnel effect is displayed at Guizhou province's big data demonstration center in Guiyang. China will further promote the development of a digital economy during the 14th Five-Year Plan period, according to a circular issued by the General Office of the State Council on Jan 12, 2022. According to the plan, efforts will be made to accelerate the construction …

Ningbo ranks among first-tier cities in digital economy
3 years, 3 months ago

Ningbo ranks among first-tier cities in digital economy

China Daily  

A digital workshop in Ningbo, East China's Zhejiang province. Ningbo in East China's Zhejiang province was ranked 15th on the 2021 list of top 100 Chinese cities in terms of digital economy, which was recently released by CCID Consulting, a firm affiliated with a think tank under the Ministry of Industry and Information Technology. Ningbo's high ranking was primarily due …

Digital economy key for nation's development
3 years, 7 months ago

Digital economy key for nation's development

China Daily  

By ZHU WENQIAN and HU MEIDONG | China Daily | Updated: 2021-04-26 Huang Kunming, a member of the Political Bureau of the Communist Party of China Central Committee and head of the Publicity Department of the CPC Central Committee, attends and makes a keynote speech at the opening ceremony of the fourth Digital China Summit in Fuzhou, East China's Fujian …

Data, AI can add $450-500 bn to India’s GDP by 2025: Nasscom
4 years, 4 months ago

Data, AI can add $450-500 bn to India’s GDP by 2025: Nasscom

Live Mint  

New Delhi: Data and Artificial Intelligence could potentially add $450-500 billion to India’s gross domestic product by 2025 and drive India’s economic growth, said a report by industry body Nasscom. The report ‘Unlocking Value from Data and AI’ lays down an action plan that can help the country emerge stronger from the covid-19 crisis by taking co-ordinated action to enhance …

Digitisation And Affordable Tech: 14 Lakh Pre-Owned Smartphones Sold In 2019 - News18
4 years, 4 months ago

Digitisation And Affordable Tech: 14 Lakh Pre-Owned Smartphones Sold In 2019 - News18

News 18  

Do you remember the time when purchasing a smartphone was a ‘day out’ activity planned with a friend or family member? An estimated 90% of the population today has access to digital technology that is an integral part of people’s lives, starting from communication support, managing work, engaging in e-commerce, to fuelling economic growth. As per McKinsey’s Digital India report, …

Increase in AI Adoption by One Unit Will Boost India's GDP by 2.5 Percent: Report
4 years, 4 months ago

Increase in AI Adoption by One Unit Will Boost India's GDP by 2.5 Percent: Report

News 18  

One unit increase in Artificial Intelligence intensity by Indian firms can result in a 2.5 per cent increase in the country's gross domestic product in the immediate term, a study by Google, IT industry body Nasscom and think tank ICRIER revealed on Monday. "This is a seminal report, estimating a 2.5 per cnet growth in India's GDP if India adopts …

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