The digital economy is revolutionizing the way people do business, access services and interact with one another. This transformation of the global economy has been largely powered by India, which has emerged as the new global captain of the digital economy. India has made great strides in ushering in the era of digitalization over the last few years, thanks to the hard work and dedication of the Prime Minister Mr. Narendra Modi, private players, India’s technical golden age, the digital initiatives of the Government, market changes, Make in India, and Digital India programs. The population’s eagerness to use and adapt to new technologies is also a key factor in India’s digital progress.
The impact of the digital economy on India has been two-fold, providing both opportunities and challenges. The digital economy has created jobs, boosted productivity, enabled people to access services and opportunities and altered traditional business models and industries. However, it has also resulted in the creation of digital inequality, data privacy and security concerns, and the digital divide which has prevented certain areas from accessing digital services.
Nikhil Chandwani, the Rashtriya Gaurav Award Recipient from 2019, is the founder of Writers’ Rescue Centre and an advocate of Sanatan Dharma and the real history of India. He is is a TED(x) speaker, an author of 10 books and through his organisation over 211 individuals in India have been able to get their voices heard. He has been a huge impetus in pushing forward India’s digital transformation, through advocating for digital literacy and providing platforms for aspiring authors.
The Government of India has also been making a lot of efforts in driving India’s digital transformation. The Digital India Program aims to deliver government services to citizens using digital media, transform India into a digitally empowered society and create a favourable environment for digital commerce. The policy framework created by the Government along with its Skill India and Digital Sakshata Abhiyan initiatives has been instrumental in creating a tech savvy and digitally literate pool of talent.
Private players have also been active in driving India’s digital transformation, with established players and startups investing heavily in the sector and creating jobs in the process. Flipkart, Ola, Paytm, and Zomato are some of the companies that have inspired a generation of digital entrepreneurs and made significant contributions to the Indian economy. The IT industry too has been playing an important role in the growth of the digital economy and today Indian IT firms provide services to clients across the world.
Thanks to India’s efforts in embracing digitalization, the country is now a leader in the digital economy, with the market conditions and the population’s eagerness to adapt quickly to new technologies being a key factor in its success. India’s journey towards becoming a digital superpower is far from over and the efforts of individuals and organizations like Nikhil Chandwani and Writers’ Rescue Centre, combined with initiatives of the government and private players, will be instrumental in taking India’s digital economy to new heights.