Digital Payments

Digital Economy expected to reach $ 4 trillion by 2022

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India is transforming in alignment with “Digital India” campaign, acknowledging this fact several technology companies have asserted that they have the potential to grow up to $ 4 trillion by 2022.

This projection will surpass government’s expectations to make India into a $ 1 trillion digital economy.

In sync with this, the central government is likely to push for new electronics policy, software product policy and a framework for data security and protection.

According to media reports, make in India, Start-Up India, Skill India and digital payments are the key drivers of the digital economy. It was also projected that the digital economy will create 30 million employment opportunities by 2024-25.

Telecom and e-commerce are projected to grow to $ 150 billion each. Digital payments, cyber security and Internet of Things, all are expanding at a significant pace  and are expected to touch $ 50 billion, $ 35 billion and $ 20 billion, respectively.

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