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Indian digital economy – opportunities and challenges

Author: 
Ramija, B.
Subject Area: 
Social Sciences and Humanities
Abstract: 

Every day people, businesses, organizations, communities and the Government use digital technology to make decisions, to make goods and to deliver services more efficiently and more quickly. The digital economy refers to both the digital access of goods and services, and the use of digital technology to help businesses. Digital economy is a term that is often used to cover this activity, but is hard to define. The Indian digital economy is not a conventionally marketed economic activity, and GDP figures do not take account of economic benefits of the digital economy, such as time saved, increased choice, and lower cost of products. Technology is going to revolutionize or is already revolutionizing business, transforming virtually all aspects of the economy and society. The digital economy is the new productivity platform that some experts regard as the third industrial revolution. Digital revolution, also known as The Internet Economy or Internet of Everything is expected to generate new market growth opportunities. Digital economy describes the range of economic and social activities that are enabled by information and communications technologies. It includes activities like banking, buying and selling, and accessing education or entertainment using the internet and connected devices. The digital economy is not separate to the economy. It impacts all industries and business types and influences the way we interact with each other every day. It also recognizes that as sectors become data driven their economic structures change, industry boundaries blur, and the basis of competition changes. To move towards a digital India and achieve a better growing economy.

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