India will become a trillion dollar digital economy by 2028 Gujarati

• 4yes and 5You will get the benefit of Zee Internet
• Government initiative will bring great success

New Delhi: With the digital initiatives of the government, India’s financial ecosystem has undergone a major transformation over the years. India is poised to become a US$1 trillion digital economy by 2028, driven by universal internet access, efficient and affordable 4G and 5G services, and government initiatives in the digital sector, according to a recent report by Ask Capital.

India has become a global example of real-time payments by benefiting from indigenous technological innovations like UPI. India’s digital transformation will prove to be a game changer for economic growth. In the last few years, digitalization of the Indian economy along with increasing use of smartphones has promoted cashless transactions and online shopping.

According to the Indian Council for International Economic Relations Research (ICRIER), India’s score on digital skills has left behind developed countries like Japan, the United Kingdom and Germany in terms of overall level of digitalization. Government initiatives such as Pradhan Mantri Jan Dhan Yojana (PMJDY) and Direct Benefit Transfer (DBT) have helped in increasing universal access and financial inclusion in the country. Increasing mobile and broadband penetration will deepen financial inclusion and promote new digital services.

Digital entertainment, online education, tele-medicine, digital health, disaster response and life-saving services are taking advantage of better mobile and internet services in India. Affordable data, increasing number of smartphone users and growth in e-commerce are driving India’s digital transformation. By March 2024, data from the Telecom Regulatory Authority of India (TRAI) shows that India will have around 120 crore telecom subscribers.

The total number of internet subscribers is expected to increase from 881 crore in March 2023 to 954 crore by the end of March 2024, of which almost half are from rural areas. In the last one year, more than 7.3 crore internet customers and more than 7.7 crore broadband customers have been added.