The State of India’s Digital Economy Report 2024 reveals that India is now the third-largest digitalised country globally in terms of economy-wide digitalisation and ranks 12th among G20 countries for individual user digitalisation. The report was released by the Union Ministry of Electronics & IT.
Key Highlights
- India’s digital economy will contribute nearly one-fifth of the national income by 2029-30, surpassing agriculture and manufacturing in less than six years.
- With an 11.74% share in GDP in 2022-23 (INR 31.64 lakh crore or USD 402 billion), the digital economy has emerged as a key driver of economic growth.
- It employs 14.67 million workers (2.55% of the workforce) and is nearly five times more productive than the rest of the economy.
- Key drivers of growth include AI adoption, cloud services, and the rise of global capability centres (GCCs), with India hosting 55% of the world’s GCCs. These centres, established by multinational corporations, provide services such as R&D, IT support, and business process management.
- In 2022-23, the digital economy employed 14.67 million people, with 58.07% of these jobs in digital-enabling industries.
- Although the workforce remains predominantly male, digital platforms are increasing job opportunities for women, particularly in sectors where mobility and safety were previously barriers.
