India’s Digital Revolution – A New Era of Economic Growth
Dr N. Krishn Swapna
Assistant Professor Dept. of Applied Economics Telangana University
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http://doi.org/10.37648/ijps.v21i02.040
Abstract
Digital economy is a one of the rapidly growing sector in Indian economy. It is estimated that it had been contributed 11 per cent in 2022 – 23 of the Indian economy. And it has been predicted that it will fifth of the economy by 2030. The digital economy includes key components like government, infrastructure, telecom, e-business, digital services, and emerging technologies. In India, these are rapidly expanding, fueling the nation's digital transformation. Digital Infrastructure: This includes high-speed internet networks, data centers, cloud computing services, and communication technologies that form the backbone of digital interactions. E-Commerce Platforms: Online marketplaces and retail platforms facilitate the buying and selling of goods and services, expanding market reach and consumer access. Digital Content and Media: Streaming services, online publications, and social media platforms distribute content digitally, influencing consumer engagement and advertising strategies. Digital Services: Services delivered through digital means, including online education, telemedicine, and virtual consultations, enhance accessibility and convenience. Cybersecurity: Protecting digital assets and information through robust cybersecurity measures is crucial to maintaining trust and integrity in the digital economy. Government, Policy, and Regulation: Governments play a critical role by enacting policies and regulatory frameworks that foster innovation, ensure competition, protect consumers, and maintain data privacy. Initiatives like Digital India and data protection laws are examples of enabling digital governance. Emerging Technologies: Advanced technologies such as Artificial Intelligence (AI), Blockchain, the Internet of Things (IoT), 5G, and Quantum Computing are foundational to the next phase of digital transformation. They create new business models, automate processes, and increase decision-making precision.
Keywords:
digital economy; Cybersecurity; decision-making; A New Era
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