Viksit Bharat: Time for new beginnings

The year 2025 has begun with a renewed promise for Viksit Bharat, with Prime Minister Narendra Modi telling the people of India that the government would work even harder to achieve the objective of a $30 trillion economy by 2047.

- NIVEDITA MOOKERJI

However, transforming India into a developed nation by the 100th year of Independence would mean many bright spots for the country along the way, well before the target year—which is still 22 years away.

Among other sectors, the digital economy, which is growing at a fast clip, should play a critical role in the Viksit Bharat journey. Estimated at around $175 billion in 2023, India's digital economy could grow to $1 trillion in three years, projections suggest. According to published data, the digital economy, which accounted for 4.5 per cent of the country's gross domestic product (GDP) in 2014, is expected to account for 20 per cent of GDP by 2026.

With the digital economy leapfrogging, current realities—such as the popularity of UPI transactions, the quick commerce wave, the rise in unicorns, innovations using 5G and 6G technologies, and advancements in artificial intelligence—could grow exponentially. For all this to happen, however, the core communication network and mobile subscriber numbers in rural areas have to strengthen significantly.