AHMEDABAD: Rajeev Chandrasekhar, Union Minister for Skill Development and Entrepreneurship and Electronics and Information Technology, stated on Thursday that the digital economy will contribute 20% of India’s GDP by 2026. He was speaking at the inaugural function of the Gujarat government’s ‘Startup Conclave 2023’ at Gujarat’s Gandhinagar helipad ground.
“In 2014, the digital economy accounted for about 4.5 percent of GDP; today, it accounts for 11%. By 2026, the digital economy will account for 20%, or one-fifth, of Indian GDP,” Chandrasekhar predicted. According to him, PM Narendra Modi’s targets and ambitions when he launched the “Digital India” program in 2015 transformed “qualitatively as well as quantitatively our economy, our innovation ecosystem, and our position as a nation in the world.”
He pointed out that India’s position has shifted from being a consumer of technology for nearly three decades to being a producer of devices, products, and platforms for the rest of the world. “There has been a remarkable transformation over the last nine years under the PM.” Our economy, which was once dominated by a few groups or segments, has now become highly diversified,” the minister said.
He claimed that India has now become the world’s fastest-growing digital economy. Praising Modi’s vision, he said, “We are living in the most exciting period in independent India’s history. This is the most exciting time in India’s innovation and technology sector. Look how far our innovation ecosystem and digital economy have grown since Modi took office in 2014.”