Rising economic boom through tech
Voice and Data|August 2024
India's economy, fuelled by tech growth and policy reforms, surged to USD 3.6 trillion, with a booming start-up ecosystem and rapid e-commerce expansion
- JAIDEEP GHOSH
Rising economic boom through tech

India's economic journey from USD 300 billion in 1993 to a staggering USD 3.6 trillion behemoth today is a testament to its resilience and policy reforms. The past decade, in particular, has witnessed a surge in technology-led sectors propelled by government initiatives. Effective implementation of ongoing and new reforms is crucial to sustain this momentum and realise the vision of a developed India by 2047.

Technology is emerging as a key differentiator in determining economic prosperity. The Government of India has played a crucial role in fostering the growth and competitiveness of technology and services sectors by creating an enabling environment.

So, which key sectors rely on technology, and how are government policy reforms driving sustained growth across India? The country's Economic Survey 2023-2024, published by the Ministry of Finance, Government of India, answers many of these questions.

RAPID GROWTH OF TECHNOLOGY-LED SECTORS

Over the past decade, information technology and related services have become increasingly significant, with their share of total GVA nearly doubling to 5.9% in FY23. The pandemic expedited the growth and acceptance of technology-driven solutions.

IT and IT-enabled services have contributed to India's external balance through export earnings. This includes exporting IT services and Global Capability Centres (GCCs). The GCCs in India have grown significantly, from over 1,000 centres in FY15 to over 1,580 by FY23. Total talent employed in Indian GCCs exceeded 1.66 million.

この蚘事は Voice and Data の August 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Voice and Data の August 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

VOICE AND DATAのその他の蚘事すべお衚瀺
Businesses in a quandary as India battles mobile spam
Voice and Data

Businesses in a quandary as India battles mobile spam

TRAI's new SMS regulations target spam but could disrupt legitimate business communications, while OTT platforms like WhatsApp remain difficult to regulate

time-read
4 分  |
september 2024
Coca-Cola cloud brings a golden harvest for Infosys
Voice and Data

Coca-Cola cloud brings a golden harvest for Infosys

Infosys is set to significantly benefit from Coca-Cola and Microsoft's cloud alliance, highlighting India's pivotal role in enabling digital transformation worldwide

time-read
4 分  |
september 2024
India's cosmic odyssey: Reaching for the Moon and beyond
Voice and Data

India's cosmic odyssey: Reaching for the Moon and beyond

India's space ambitions extend beyond Chandrayaan-3, with plans for lunar sample returns, a national space station, and cutting-edge launch vehicles

time-read
4 分  |
september 2024
SMEs scale new heights with cloud
Voice and Data

SMEs scale new heights with cloud

Cloud technology empowers Indian SMEs in BFSI with scalability, innovation, and security, enabling them to compete with larger firms and drive growth

time-read
2 分  |
september 2024
Not a chip off the same block
Voice and Data

Not a chip off the same block

eSIMs are reshaping connectivity with seamless switching, enhanced security, and loT integration while navigating challenges in adoption and regulation

time-read
9 分  |
september 2024
Powering 'Tech Olympics' in Paris
Voice and Data

Powering 'Tech Olympics' in Paris

How the Paris 2024 Olympics redefined global sports, blending Al, 5G, and digital twins to set new standards and pave the way for the future of sporting events

time-read
6 分  |
september 2024
"5G has consistently influenced complementary technologies"
Voice and Data

"5G has consistently influenced complementary technologies"

With over 34 years of experience in the IT services industry, Dinesh Rao currently serves as the Executive Vice President and Co-Head - Delivery at Infosys.

time-read
5 分  |
september 2024
"AI applications and hybrid work models are drivers of SASE adoption"
Voice and Data

"AI applications and hybrid work models are drivers of SASE adoption"

With extensive experience in leading product management for Secure Access Service Edge (SASE), Software-Defined Wide Area Network (SDWAN), and Security Service Edge (SSE) solutions across various enterprises, Andrew Winney currently serves as the General Manager and Global Head of SASE Business at Tata Communications.

time-read
5 分  |
september 2024
TELECOM'S GREEN SIGNAL FOR GROWTH
Voice and Data

TELECOM'S GREEN SIGNAL FOR GROWTH

As technology leads India's sustainable transition, innovations like 5G and green energy are paving the way for inclusive growth and environmental stewardship

time-read
4 分  |
september 2024
The BIG Leap
Voice and Data

The BIG Leap

As Indian enterprises embrace 5G, they are driving innovation, unlocking new possibilities, and paving the way for the next industrial revolution

time-read
6 分  |
september 2024