February 24, 2024

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Core digital sectors to contribute 10% to India’s GDP by 2025

Core digital sectors in India have the potential to contribute up to 8-10% to the country’s GDP by 2025, says a recent report.

These core digital sectors include information technology-business process management (IT-BPM), digital communications, and electronics manufacturing.

The report said that currently, these core digital sectors account for about US $170 billion or 7% of the country’s GDP (2017-2018). Out of this, US $115 billion is from IT-BPM, US $45 billion from digital communications, and US $10 billion from electronics manufacturing.

In India, data costs have fallen by 95% since 2013, and this is expected to increase the number of smartphone users by about 40% and double the number of smartphones by 2023.

The report also predicts that core digital sectors will increase two-fold to US $355-435 billion by 2025.

The report said that India is one of the largest and fastest-growing markets for digital consumers, with 560 million Internet subscribers in 2018, just behind China.

Indian mobile data users consume 8.3GB (gigabits) of data each month on average, compared with 5.5 GB for mobile users in China and 8-8.5 GB in South Korea.

The public sector has been a strong catalyst for India’s rapid digitisation and so has private sector innovation. Internet-enabled services are now more accessible to millions of consumers.

In recent years, India’s Internet user base has grown rapidly as a result of the decreasing cost and increasing availability of smartphones and high-speed connectivity. It is now one of the largest in the world.

Also, as reported earlier, India’s digital energy consumption is set to increase by 16% every year through 2023, twice the world average growth rate. This upsurge in energy consumption has been attributed to the production and adoption of digital technologies, specifically smartphones.

When Digital India was launched, one of its main objectives was to transform India into an electronics manufacturing hub, targeting net-zero imports by 2020.

India’s Union Cabinet gave its approval to an extension of the Modified Special Incentive Package Scheme (M-SIPS) in 2015, which provided subsidy amounting to 20% for investments made in special economic zones (SEZs) and 25% for investments in non-SEZs.

By February of last year, 322 applications had been received, out of which 148 applications had been approved. Under the Electronic Manufacturing Cluster (EMC) Scheme in 2018, the Ministry of Electronics and IT received 50 applications, out of which it had approved 20 greenfield EMCs and three common facility centres (CFCs).

The Government also set up an Electronics Development Fund to provide risk capital for start-ups planning to develop new technology in electronics, nano-electronics, and other information technologies.

As a result of Government initiatives, India now has 120 units manufacturing mobile phones compared to 2 units in 2014. Around 225 million mobile handsets were manufactured in India in 2017-2018 compared to 60 million in 2014-2015. The industry has generated employment for over 450,000 people.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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