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The Digital Economy is expected to reach USD1 trillion by 2022 and USD1.8 trillion by 2025

India has became the world’s second-largest telecom market in 2018 with over a billion subscribers. This has helped in fostering inclusion, driving empowerment and enabling transformation. With the given trends, the Digital Economy is expected to cross USD 1 Trillion by FY22, according to COAI’s IMC – KPMG in India report on ICT & TMT sector titled New Digital Horizons – Connect, Create and innovate.
The report was launched at the recently held 3-day India Mobile Congress (IMC), in the presence of Shri Manoj Sinha, Hon’ble Minister of State (Independent Charge) for Communications & Minister of State for Railways, Government of India. The report highlights the detailed trends in ICT sector predicted that mobile data usage in India, which is already high, is further expected to surge 5 Times by the 2023. This will further witness digital diversity in the online audience taking it from the current 225 million in FY18 to 550 million by FY23.

According to IMC – KPMG in India Report the total subscriber base is expected to reach 1.28 billion in FY22 with significant increase in data consumption which is expected to reach 7 GB per subscriber per month.

Speaking at the launch, Rajan S Mathews, Director General, COAI said “The report bears cognizance of the fact that a New Digital Horizon is making its mark and the telecom sector is playing an indispensable role in catapulting India’s economy to forge ahead of the rest of the world. The prized trinity – regulators, academia and industry are collaborating to CONNECT India, CREATE an ecosystem for ICT players to thrive and to contribute to the growth of digital India and INNOVATE – to bring in a faster growth in technology adoption and network solutions. We envision an empowered society where every individual participates in the socio-economic growth of the country.”

This report highlights how the New Digital Horizon is un-folding for India and the pivotal role that Telecom sector plays in providing India an opportunity to power ahead of the rest of the world as a digital economy. Not only is the Indian telecom sector furthering the Government’s ambitious Digital India programme so that it reaches all and sundry, but it is now playing an instrumental role in bringing in innovative technologies such as 5G, M2M, AI, AR and VR, which will shape India in the coming times by permeating and transforming every sector linked to economic development.
The mobile and the internet have played a decisive role in democratizing technology and democratizing access to services and use cases, based on these very technologies.