Internet to Contribute Nearly 16 Percent to India’s GDP by 2020: Study

Internet to Contribute Nearly 16 Percent to India’s GDP by 2020: Study

The year 2015-16 saw a 17 percent increase in the total Internet traffic in India that led to an increase of Rs. 7 lakh crores in Gross Domestic Product (GDP), of which at least Rs. 1.4 lakh crores came from Internet-based app services, a new first-of-its-kind study revealed on Friday.

This puts the Internet’s contribution to the country’s GDP at about 5.6 percent in 2015-16 and is estimated to grow to nearly 16 percent (Rs. 36 lakh crores) by 2020, of which internet-based apps will contribute about half (about Rs. 18 lakh crores), said the study, titled “Estimating the Value of New Generation Internet based Application Services”.

Conducted by the leading think tank ICRIER along with Broadband India Forum, the study was released by Communications Minister Manoj Sinha in the presence of senior officials from the Ministry of Electronics and Information Technology (MeitY), the Telecom Regulatory Authority of India (TRAI) and Niti Aayog at an event in the capital.

“Internet apps and services are disrupting traditional industries. Regulation, globally, is evolving to strike the right balance between protecting consumer/business interests and encouraging the ecosystem to innovate further,” said T.V. Ramachandran, President, Broadband India Forum.

“India needs to chart its own course from a policy/regulation perspective considering the significant higher impact on its economy. It needs to resist the temptation to follow global precedence or come up with defining laws without active stakeholder discussion,” Ramachandran added.

The study looked into case studies of 16 service/app companies, including MakeMyTrip, Practo, Paytm,…

Source link

Share this post

Post Comment