Winning Bizness Sports Desk

Mumbai. India has emerged as a major economic power in the last few years. The country is far ahead in the era of digital transformation leaving many big countries behind. This digital transformation is benefiting India's economy immensely and according to the estimates, the contribution of the digital economy to the total GDP may soon reach up to 20 percent. Union Minister Rajeev Chandrasekhar on Friday said that India is not only the fastest growing economy in the world but India is also the fastest growing digital economy in the world. He was speaking at the Digital Acceleration and Transformation Expo held in Delhi where he expressed hope that the contribution of the digital economy to the total GDP would soon go up to 20 percent. Currently, the digital economy accounts for 11 percent of the country's total gross domestic product (GDP).

Growth rate is 3 times faster

A few days ago, Rajeev Chandrasekhar had claimed in an event that by 2026, the contribution of the digital economy to the total GDP could reach 20 percent. He had then said that in 2014, the contribution of the digital economy to the GDP was only 4.5 percent, which has now increased to about 11 percent. According to the minister, nowadays the digital economy is progressing much faster than the normal economy and the growth rate of the broader digital economy and the innovation economy in particular is outstanding. Their growth rate is almost 3 times faster than the regular economy.

These goals for 2026

India is set to become a 5 trillion economy by 2027. Along with this, Minister Chandrasekhar said that the country is aiming to make the country one of the trillion dollar digital economies of the world by 2026. He said that we are not only the fastest growing economy in the world but also the fastest growing digital economy.