India has one of the fastest and largest growing markets for digital consumers with more than a half billion internet subscribers. But even then, adoption of digital practices is quite uneven among businesses and organisations. If you are a business owner, get affordable flight tickets to India from USA on Budget Airfares and enhance your aptitude by improving your digital connection with us.
Connectivity online is preceding and technology is on the edge to change almost each and every sector of the Indian economy. The result? It will create major economic value and change the nature of work for millions of Indians overnight!
According to McKinsey Global Institute, if the government and private sector organisations work together to form improved digital ecosystems, digital tech is bound to spread rapidly. This will increase their potential value by 2025.
All You Need To Know About The Digitalisation Of India
We divided the content into sections as mentioned below.
- Indian consumers are powerfully embracing the digitalisation of India.
- Implications for companies, policy makers, and individuals.
Indian consumers are powerfully embracing the digitalisation of India.
Fuelled by decreasing costs and easily available smartphones with high connectivity, India is bounding towards becoming a digitally advanced country in no time. With one of the largest and fastest growing economies of the world, the ever – growing digital consumer base (that is 2nd only to China!) is constantly on the run to digitise faster than many evolving and matured economies.
With the government’s efforts to boost Aadhar, it has become the single largest digital ID program in the world. It has enrolled 1.2 billion people since it was announced in 2009. This in turn, helped other digital services to grow faster than before.
Goods and Services Tax Network (which was launched in 2013) works to bring almost 10.3 million indirect tax – paying businesses on to one single digital platform. This provides a strong incentive for businesses to digitise their operations as well.
Implications for companies, policy makers, and individuals.
The best way to ease the pain of conversion to a digital economy along with reaping the heavy benefits that come with digitalisation, 3 sectors of people (business leaders, government officials, and individual citizens) need to come and work together.
Business owners need to analyse digital interruptions and prepare for them beforehand in order to avoid a chain breakdown. Take smart risks as you adapt to the modern business models and digitise your core internal operations.
Government has done much to improve India’s digital standing in the world, especially with the launch of Digital India and improving infrastructure. However, there is still much to be done. Both national and state governments can work together with private sector companies and industries to drive the point home at the core.
Individuals need to become careful with the sudden boom of digitalisation as they reap the most benefits. Know what they need to thrive and cut out excesses that can potentially disrupt their regular lives.
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