Digital India: With all focus to boost the ‘Digital India’ initiative by Narendra Modi-led Central government, it is being predicted that the Internet services industrywill fetch around 12 million (1.2 crore) jobs by 2022. According to a report titled ‘Economic Impact of Internet Services in India’ published by the Internet and Mobile Association of India (IAMAI), the sector is currently valued at $33.8 billion and is bound to reach $76.4 billion by 2022. The report also highlights that as of now around one million are employed under country’s internet services sector.
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With a substantial improvement of high speed internet across the country, the report goes ahead to inform that currently there are 480 million active internet users in the country. This number is expected to go up to 762 million in 2022 on the backdrop of proliferation of affordable Internet connectivity.
Even looking at the smartphone penetration across the country, the numbers are expected to grow at 1.75 times to reach 526 million by 2022. On the technology and business side of the Internet services, the report said that the Internet will fundamentally change the way the needs, aspirations and demands of the consumers will be addressed. “Pivoting on that, the Internet services sector is expected to see several of changes in the future,” The IAMAI report said.
The report further suggested that the sector can further reach up to USD 124 billion if certain critical factors are realised such as forward looking and supportive government policies, better infrastructure for widespread Internet connectivity, developed distribution network, among others.
Apart from the aforementioned facts, emerging technologies such as artificial intelligence (AI) and internet of things (IoT) will contribute significantly in boosting the internet services industry of the country. Likewise, the report also highlighted that government agencies and internet businesses are putting efforts to digitise small and medium enterprises, and this is expected to benefit immensely.