Union Minister Rajeev Chandrasekhar at the inaugural function of ‘Startup Conclave 2023’, organised by the Gujarat government said that the digital economy will contribute 20 percent of India’s global domestic product (GDP).
Chandrasekhar said that India’s global position has transformed from being the consumer of technology for over three decades to being an able producer for the world.
The minister also mentioned that India has become the fastest growing digital economy in the world.
In 2014, the digital economy was around 4.5 percent of GDP. Today, it contributes 11 percent. By 2026, the economy is poised to account for 20 percent or one-fifth of the Indian GDP.
“It was a remarkable transformation during the last nine years under the PM. Our economy, which was once dominated by a few groups or segments, has now become a highly diversified economy.”
“This is the most exciting time in the history of independent India that we are living in. This is the most exciting time for the innovation and technology sector in India ever. I am saying this look how far our innovation ecosystem and digital economy have grown since 2014 when Prime Minister Narendra Modi assumed office,” said the Union Minister.
He added that the next decade will be all about opportunities for startups and innovation.