Indias Internet economy is expected to grow sixfold to $1 trillion by 2030 from $175 billion in 2022, a report fromGoogle, Temasek and Bain & Company showed.
The report said confluence of three crucial forces — digital-seeking behaviours among internet users in tier-2 locations; the digitization of large, traditional businesses along with a growing startup ecosystem; and the success of Indias homegrown digital public goods or the India Stack — has positioned the internet economy for acceleration.
The contribution of the internet economy to Indias technology sector is set to expand, from the present 48% to 62% in 2030, while its share in Indias GDP will increase from
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4-5% to nearly 12-13%.
With Indias 700 million internet users transacting more via real-time digital payments and spending more time on online video-streaming Services and Social Media than global Averages, the internet economy is set to expand beyond its current base.