Rajeev Chandrasekhar Envisions India’s GDP Boosted by 20% from Digital Economy by 2026
- ByStartupStory | August 17, 2023
Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, stated on Thursday that India’s digital economy is projected to make up more than 20% of the country’s GDP by 2026. Chandrasekhar shared this insight during his address at the ‘G20 Digital Innovation Alliance Summit’ held in Bengaluru.
Highlighting India’s rapid technology advancement, Chandrasekhar underscored the nation’s swift adoption of technology and its growing role in providing global solutions.
He noted that the digital economy’s contribution has surged from 4 to 4.5% of the total GDP in 2014 to the current 11%.
Chandrasekhar emphasized that India’s technological embrace extends beyond innovation, aiming to offer tangible solutions that drive transformative changes in people’s lives, governance, and democracy in recent years.
Discussing the pace of digitalization, Chandrasekhar emphasized the ubiquity of digital products and services, reaching every citizen and consumer. This includes everything from social platform video content to digital public infrastructure linking citizens to government services. He also touched upon the profound impact of cloud computing and the broader consequences of the digital trend.
The minister observed that the center of gravity in technology, once concentrated in a few countries and limited companies, is now shifting toward open-source systems and younger startups that are disrupting traditional norms. These trends are aligned with the larger movement of increased digitization.
Chandrasekhar applauded Prime Minister Narendra Modi for his vision in the digital tech realm, expressing that the upcoming decade is poised to bring forth a “Techade,” ushering in diverse technological opportunities.
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