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Emerging Digital Technologies to Generate $1 Trillion in Economic Value for India

Digital technologies across sectors such as retail, financial services, healthcare, energy, manufacturing and infrastructure will be fuelling the growth

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Digital, Technologies, Economic
India is poised to be a game-changer in the world digital economy by empowering its citizens and revolutionizing businesses. Pixabay

Emerging digital technologies are expected to generate $1 trillion in economic value for India — spearheading the $5 trillion economy ambition by contributing 20 per cent to the countrys nominal GDP and sustaining 60-65 million jobs by 2025, an EY report said on Monday.

By 2025, India is expected to have 90 per cent Internet penetration with 850 million users, with rural base growing 2.5 times as compared to the urban base, the report added.

“India is at an inflection point — digital has changed the way people communicate, socialize, create, sell, shop and work. India is poised to be a game-changer in the world digital economy by empowering its citizens and revolutionizing businesses,” said Prashant Singhal, Emerging Markets TMT (technology, media and telecom) and Leader, EY.

Digital technologies across sectors such as retail, financial services, healthcare, energy, manufacturing and infrastructure will be fuelling the growth, resulting in employment generation, increased local and regional entrepreneurship and facilitate equitable socio-economic growth.

Digital, Technologies, Economic
By 2025, India is expected to have 90 per cent Internet penetration with 850 million users, with rural base growing 2.5 times as compared to the urban base, the report added. Pixabay

“Digital economy has the potential to sustain 60-65 million employment opportunities for women, differently-abled people, skilled and semi-skilled workers across digitally enabled businesses in urban, semi-urban and rural areas,” the EY report mentioned.

In the last four years, 268 mobile and mobile component manufacturing units have been set-up, generating 670,000 direct and indirect jobs under the electronic manufacturing initiative.

Domestic electronics manufacturing could generate economic value of $100 billion to $130 billion by 2025, the report said.

The Internet user base in India is expected to reach 627 million by the end of 2019 – second only to China, which is expected to reach about 850 million by 2025.

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However, the Internet penetration is at only 36 per cent – indicating significant growth opportunities.

Rural Internet users are expected to increase by 2.5 times, in comparison to the urban internet users – providing a huge impetus for the next big wave of growth.

The Indian e-commerce and consumer internet sectors are expected to reach $200 billion by 2027 and is a significant avenue to provide employment and build entrepreneurship in the country.

Digital, Technologies, Economic
India is at an inflection point — digital has changed the way people communicate, socialize, create, sell, shop and work. Pixabay

“In 2018, the sector raised over $7 billion in PE/VC capital (including venture debt) across approximately 200 deals, and seven companies reached the coveted unicorn status. 2019 has already seen five companies achieve the unicorn status,” the findings showed.

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By scaling 80 per cent of India’s e-commerce supply chain to digital value chain could generate an additional economic value of $5 billion to $10 billion in 2025, added the report. (IANS)

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5G Network- The Future of Digital India

5G will drive edge computing, IoT in India in 2020

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5G network
Many Indian enterprises have adopted 5G network due to its convenience. Pixabay

With more and more Indian enterprises striving to go digital, the increased speed and bandwidth of 5G networks will drive a new round of transformation across India from next year, industry leaders said on Thursday.

There will be a shift of computing to the edge, as India’s businesses take advantage of the benefits of cloud and hyper-converged infrastructure to deal with increasing data gravity.

“With legacy three-tier architectures already struggling to cope with high volumes of data generated by today’s enterprises, 5G will be the catalyst that drives edge computing and IoT,” Balakrishnan Anantharaman, VP and MD-Sales, India and SAARC, Nutanix, told IANS.

“As increased speed and bandwidth reduce the gap between wifi and cellular devices — edge computing will come into a realm of its own,” he added. The Indian IoT market is expected to touch $9 billion by 2020 across sectors such as telecom, health, vehicles and homes, among others.

It is emerging as the next big thing to become a $300 billion global industry by 2020 and India is all set to capture at least 20 per cent market share in the next five years, according to a Nasscom report.

5G
The advent of 5G is what AI-driven IoT has been waiting for. Pixabay

Sai Pratyush, Additional Vice President, Product Marketing-ICS, Tata Teleservices Limited (TTSL) said that in the enterprise segment, they are witnessing a significant growth in the adoption of new-age technologies such as IoT, AI and Cloud across industries.

“IoT especially, is viewed as a key enabler driving digital transformation to unlock operational efficiencies. AI, coupled with ubiquitous connectivity, is enabling exponential value being generated by IoT. AI is seeing large scale adoption by enterprises owing to its power to aid automation, speed and better decision making,” Pratyush elaborated.

The ‘Edge’ continues to evolve — with many working hard to define exactly what it is and where it exists. As the advent of 5G makes AI-driven IoT a reality, edge computing environments are primed to become even more disruptive than cloud was.

“The advent of 5G is what AI-driven IoT has been waiting for. 2020 will see many players in the technology industry and business community invest in building edge-computing environments to support the reality of AI-driven IoT,” said Atish Gude, NetApp’s Chief Strategy Officer. The “Edge” continues to evolve — with many working hard to define exactly what it is and where it exists.

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“Once limited to IoT, it’s hard to find any systems, applications, services — people and places — that aren’t connected. The edge is emerging in many places and it’s going to expand with enterprise organisations leading the way, delivering the IT infrastructure to support it,” stressed Alok Ohrie, President and Managing Director, Dell Technologies, India. (IANS)