Digital technology will be a major contributor to the countrys GDP Growth this decade, saidVAnantha Nageswaran, chief economic adviser, Government of India. He was speaking at the interaction organised by the Associated Chambers of Commerce and Industry of India (Assocham) in the city.
He said that capital Investment and digital technology will help achieve positive growth as online usage in India is well ahead of the largest digital economy with respect to digital payment. My expectation is that capital investments by businesses, which was absent last decade, will add about 0.3% to 0.5% to growth of GDP and digital economy another 0.3% to 0.5%, he said.
Indias Real GDP growth for the year ending March 2023 was 7.2%, surpassing expectations. The final number will be higher than 7.2% as the underlying momentum in the economy is quite strong, he added.