Digital economy is growing rapidly, by 2030 internet economy will exceed $65 billion
Digital Economy: According to the report of Google Temasek and Bain & Company, India's internet economy has registered a boom. The Internet economy in India is expected to grow at an annual rate of 12 to 13 percent.
Google, Temasek, and Bain & Company have released the 'India E-Conomy Report' regarding India's Internet economy. It has been told in the report that India's Internet economy will grow at the rate of 12 to 13 percent in a year. At present, it has increased by 4 to 5 percent in India.
India's internet economy was between 155 to 175 billion dollars in the year 2022. Many businesses will benefit from the rise of the Internet economy. In this, e-commerce, software service providers, and OTT service providers will get special benefits.
In which sector, how fast will it be:
B2C: In the year 2022, the size of this sector has been 60-65 billion dollars. It is expected that by the year 2030, this sector can increase by 5-6 times.
B2B: This sector is expected to witness maximum growth. According to the India E-Conomy report, by 2030, the total turnover of this sector will reach 105 to 120 billion dollars. Now its turnover is only 8-9 billion dollars.
Software Service: The business of software service is growing rapidly. By 2030, it is expected to increase by 5 to 6 times. That is, the business of this sector will reach the level of 65 to 75 billion dollars. At present, the turnover of this sector is about 12 to 13 billion dollars.
Online activities have increased in daily life. Its direct impact is being seen in the Indian economy. Now online services are also increasing. More and more people in India are adopting digital commerce. Along with this, the demand for digital service is increasing in the cities where digital service is not fully available. Along with this, UPI and DigiLocker have helped a lot in increasing the internet economy.
The World Bank today released a report on the global economy. That report pointed out that the global economy is in a precarious state. Because of this, there is a huge decline in the growth rate. The World Bank in its latest report has projected that the global economy will expand by only 2.1 percent in 2023, after growing by 3.1 percent in 2022. The World Bank has reduced India's GDP growth rate to 6.3 percent for 2023-24.
