Digital Technology:Way to Economic Prosperity

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Sajal Raj, MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur


 

This is with reference to an article published in Economics Times dated 15th March 2015.According to the article Global Consultancy Major Accenture predicts that “Increasing application of digital technologies can help India’s GDP to grow by $101 billion by 2020″.Among emerging market China leads the ranking with digital technology projected to contribute $410 billion to its economy. India ranks second followed by Brazil ($97 billion).Globally India is on fourth slot after China,US and Japan.Various factors such as implementation of newer technology,volume of transaction etc have been taken into consideration.

According to an article published in NDTV news dated 15th March-” The increased use of digital technologies can boost productivity for the world’s top 10 economies and add $1.36 trillion to their total economic output in 2020″.The study suggested that digital penetration and adoption can change the course of economic growth.It is very important for Indian Government to provide facilities such as land,labour and capital with lesser hassles for business to prosper.In the near future majority of business model will shift on digital platform.

 

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