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Gupta, who is also the Chairman of the Internet and Mobile Association of India (IAMAI), said that while 500 million people are connected on smartphones, there are another 500 million people waiting to join the digital bandwagon, and that we need to take a more inclusive approach to digital transformation.
"Those who are on the outside of digital transformation risk being left behind. Startups and the digital ecosystem will truly transform India's digital economy, taking it from $250 billion to a $1 trillion industry and accounting for more than half of the country's development over the next five years "he stated emphatically.
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India now boasts over 82 unicorns, totaling over $39 billion in financing (from 2014 till December 4, 2021). According to Hurun Research Institute, India became the world's third largest startup ecosystem in 2021, behind the United States and China.
According to Gupta, startups will play a critical role in helping India achieve its goal of becoming a $1 trillion digital economy.
We're at a key juncture in India's road to become a fully digital nation.ET Telecome/wikipedia
"Even more interesting is the emergence of early-stage firms in tiny towns and non-metros around the country, which I'm seeing. Today, the creativity is deepening, and entrepreneurial spirit is being demonstrated across the country, with young people participating and expressing their ideas on how to address India's major concerns "he stated
If 2021 was the turning point for Indian entrepreneurs, it was made possible by the efforts made in developing our digital strategy and infrastructure over the previous decade.
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"Even as we celebrate 2021's significant accomplishments, it's crucial to remember that we're at a key juncture in India's road to become a fully digital nation," Gupta said.
"It is incumbent on us to make the digital economy more inclusive," he said, adding that "we need to help companies and job seekers develop the skills required to flourish in India's emerging digital economy." (IANS/PR)
(Keywords: Hurun Research Institute, Chairman of the Internet and Mobile Association of India (IAMAI), Smartphones, digital transformation, India's digital economy)