Digital India

2024: Digital economy reaches $1trn

In 2024, the volume of India's digital economy approached $1 trillion. The rapid growth of this sector is facilitated by the active development of the IPO (initial public offering) market, as stated in the material of the Indo-Asian News Service (IANS) news agency, published on March 10, 2025.

In 2024, it is estimated that India accounted for about 31% of the global IPO volume. At the same time, $3 billion of investments were attracted. The country is seeing a rapid expansion of the startup ecosystem. India's digital economy is expected to grow almost twice as fast as the economy as a whole and account for nearly one-fifth of national income by 2029-2030.

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Фото: Unsplash

By the beginning of 2025, there are more than 100 unicorns in India - startups whose market value exceeds $1 billion. The number of promising companies continues to grow, and the business is moving to a strategy of increasing profitability and organizing multi-channel sales.

India's Ministry of Electronic Industry and Information Technology reports that the main drivers of the growth of the digital economy in the country are the rapid introduction of artificial intelligence, cloud technologies and an increase in the number of global competence centers - offshore structures created by multinational corporations to provide various services, including research and development, IT support and business process management. As of 2024, India ranks third in the world in terms of digitalization of the economy and 12th among the G20 countries in terms of digitalization of individual users. India's digital economy employs 14.67 million workers, 2.55% of the country's total workforce, according to released data.^[1]

2023

India's National Payment System Starts Launching in Other Countries

On 17 August 2023, India announced the signing of a memorandum of understanding with the Republic of Trinidad and Tobago. Under the terms of the agreement, this island nation in the southern Caribbean will use India Stack's suite of digital services, including the payment system. Read more here.

Indian Government Approves Digital India Country's Digitalisation Programme And Will Spend Rs 149 Billion On It

On August 16, 2023, the Cabinet of Ministers of India approved an expanded digitalization program for the country, which, among other things, provides for improving the level of availability of public services in electronic form.

We are talking about the Digital India initiative, which was first announced on July 1, 2015. The program provides for the connection of rural areas to high-speed Internet networks, the development of a secure and stable digital infrastructure, a universal increase in digital literacy, etc.

The Cabinet of Ministers approved an expanded program of digitalization of the country

As part of the approved plan until 2026, Digital India is allocated 149 billion rupees for events (approximately $1.79 billion at the exchange rate as of August 17, 2023). Some of these funds will go to retraining and advanced training of approximately 625 thousand. IT professionals in FutureSkills Prime courses. In addition, approximately 265 thousand people will be trained in the field of information security.

The money is also planned to be used to improve the Bhashini mobile app, which is designed to help Indian citizens translate content into different Indian languages. As of mid-August 2023, this tool supports 10 local languages. The Digital India initiative will add support for 12 more languages.

In addition to the 18 supercomputers already deployed under the National Supercomputer Mission, the government will add nine more high-performance computing complexes. Some of the funds will go to support about 1,200 startups operating in the IT sector. In addition, it is planned to make available an additional 540 new services in the Umang public services application (in addition to more than 1,700, which are valid by mid-August 2023).^[2]

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