Saturday, December 24, 2016

Digital economy-Driving India's growth momentum

We need 1.2 billion people going digital to ensure greater economic prosperity 

Lunchtime in Mumbai is a sacred affair. In a city whereas time is money, there is highly efficient distribution system to deliver lunches to office-gores known as the Dabbawalas. An institution on its own, fabled for their legendary accuracy, they have partnered up with one the country's largest E-commerce retailer Flipkart to deliver packages as well.

Home to 4,000 setups, the country lags behind only the US and UK .The previous year alone has attracted $44 billion in foreign directed towards the services sector possible only with US and UK.  The previous year alone has attracted $44 billion in foreign direct investment of which a mojor chunk was directed towards the services sectors possible only with an educated populace and the Internet .The report by the department of electronics and IT estimated that the lot industry though nascent in India is expected to grow to Rs 940 billion by 2020 with widespread applications from agriculture, healthcare, manufacturing to power and even space and stock.       

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