A hot topic in boardroom discussions for years, digital transformation has now become a part of the mainstream realm. From large private enterprises to the public sector, midsize businesses to startups, the pace of digital transformation across the board is incredible. In fact, digitalization of every sector is one of the Central Government’s ten leading targets for the next decade. Is this a sign of India’s digital economy coming of age?

With an eye on further empowering the nation’s growing digital economy, the Government of India introduced the National Policy on Electronics (NPE) and the National Policy on Software Products (NPSP) earlier this year. These policies aim to build a comprehensive digital manufacturing and research and development (R&D) ecosystem, and are intended to complement efforts already underway to improve digital literacy and infrastructure under the “Digital India” programme.

Reiterating its vision to develop the digital economy, the Government in its Union Budget for FY 2019-20, called for additional investments in boosting the digital economy, while also making digital transactions more attractive.

For starters, India’s digital consumer base is the world’s second-largest, as well as the second-fastest growing among 17 major economies, as per findings of the latest India Economic Survey. And this base is core to the creation of future economic value and societal empowerment as digital solutions backed by new-gen technologies such as artificial intelligence (AI), internet of things (IoT) and automation become ubiquitous.

https://www.businesstoday.in/amp/opinion/columns/story/strong-digital-ecosystem-key-to-india-5-trillion-dollar-economy-vision-digitalisation-indian-economy-modi-government-231347-2019-10-10