ENA Economy 2025-01-23 14:37:57 <p><span style="font-size:14px"><strong>New Delhi, Jan 23 (KNN)</strong> India's digital economy is set to experience exponential growth, projected to contribute nearly one-fifth of the country's national income by 2029-2030, according to a report released by the Ministry of Electronics and Information Technology (MeitY) on January 22.</span></p> <p><span style="font-size:14px">The comprehensive study, titled 'Estimation and Measurement of India's Digital Economy', represents the first systematic attempt to quantify the value and employment generated by the nation's digital sector.</span></p> <p><span style="font-size:14px">It forecasts a transformative trajectory that will see the digital economy surpassing both agriculture and manufacturing in less than six years.</span></p> <p><span style="font-size:14px">As of 2022-23, the digital economy already contributes 11.74 percent of India's national income, translating to Rs 28.94 trillion in Gross Value Added and Rs 31.64 trillion in GDP.</span></p> <p><span style="font-size:14px">The report projects this share to increase to 13.42 percent by 2024-25, with the largest contribution coming from information and communication services, telecommunications, and electronics manufacturing.</span></p> <p><span style="font-size:14px">The sector's growth is expected to be driven primarily by digital intermediaries and platforms, with increasing digital diffusion and broader economic digitalisation.</span></p> <p><span style="font-size:14px">Currently, big tech players, digital platforms, and intermediaries account for nearly 2 percent of the national Gross Value Added, while industries like banking, financial services, insurance, trade, and education contribute an additional 2 percent.</span></p> <p><span style="font-size:14px">Employment data reveals that the digital economy employed 14.67 million workers in 2022-23, representing 2.55 percent of India's total workforce.</span></p> <p><span style="font-size:14px">This stands in stark contrast to agriculture, which remains the largest employer with 263.6 million workers, and manufacturing, which employs 65.6 million workers.</span></p> <p><span style="font-size:14px">The report underscores India's rapidly evolving digital landscape, signalling a significant economic transformation in the coming years.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40755 https://knnindia.co.in/news/newsdetails/economy/indias-digital-economy-to-drive-20-pc-of-gdp-by-2030-meity-report 2025-01-23 14:37:57 knnindia.co.in