Gandhinagar, Dec 8 (KNN) The digital economy has the potential to contribute 20 per cent to India’s GDP by 2026, said Rajeev Chandrashekhar, Union MoS Electronics and Information Technology, Skill Development and Entrepreneurship.

Currently, India’s digital economy is at 11 per cent of the GDP and will surge to 20 per cent by 2026, he said.

Speaking at the inaugural function of 'Startup Conclave 2023', held in Gandhinagar, he highlighted the growth of digital economy from 4.5 per cent of the GDP to 11 per cent.

The digital economy is outpacing overall GDP growth, growing at two and a half times faster than the overall GDP growth. By 2026, it is anticipated to constitute 20 per cent or one-fifth of India’s GDP.

The minister emphasised that the goals outlined by Prime Minister Narendra Modi during the 2015 launch of the Digital India programme have significantly transformed our economy, innovation ecosystem, and global standing both qualitatively and quantitatively.

India's position has transformed from being the consumer of technology for nearly three decades to being the producer of devices, products and platforms for the world.

The minister highlighted the evolution of the economy from dominance by a few groups to a highly diversified one.

Stressing India's status as the world's fastest-growing digital economy, the minister expressed enthusiasm for the current state of the innovation and technology sector in the country, deeming it the most exciting period.

(KNN Bureau)