{"id":3507,"date":"2024-06-14T00:11:08","date_gmt":"2024-06-14T00:11:08","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=3507"},"modified":"2024-06-14T00:11:08","modified_gmt":"2024-06-14T00:11:08","slug":"indias-internet-economy-set-to-hit-1-trillion-in-7years","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/indias-internet-economy-set-to-hit-1-trillion-in-7years\/","title":{"rendered":"India’s internet economy set to hit $1 trillion in 7\nyears"},"content":{"rendered":"

Indias Internet<\/a> economy<\/a> is expected to grow sixfold to $1 trillion by 2030 from $175 billion in 2022, a report fromGoogle, Temasek and Bain & Company showed.<\/p>\n

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.<\/p>\n

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 4-5% to nearly 12-13%.<\/p>\n

With Indias 700 million internet users transacting more via real-time digital payments and spending more time on online video-streaming Services<\/a> and Social Media<\/a> than global Averages<\/a>, the internet economy is set to expand beyond its current base.<\/p>\n

This Growth<\/a> will be founded on consumers seeing their household incomes double by 2030 from approximately $2,500 to $5,500 by 2030. Tier-2 consumers indicated a greater openness to experimentation with new brands and products, and to directing their increased spending towards personalization and premiumization, especially for healthtech and edtech, the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[877],"class_list":["post-3507","post","type-post","status-publish","format-standard","hentry","category-current-affairs","tag-18-19-06-23"],"yoast_head":"\nIndia's internet economy set to hit $1 trillion in 7 years - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/indias-internet-economy-set-to-hit-1-trillion-in-7years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India's internet economy set to hit $1 trillion in 7 years\" \/>\n<meta property=\"og:description\" content=\"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. 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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 ... 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