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MeitY seeks proposals to estimate India's digital economy Digital Economy
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MeitY seeks proposals to estimate India's digital economy

India Blooms News Service | @indiablooms | 23 Feb 2023, 12:32 am

New Delhi: The Indian government is looking to estimate the size of the country’s digital economy and in this regard the Ministry of Electronics and Information Technology (MeitY) invited proposals, media reports said.

As per a Business Standard report, MeitY has sought proposals from interested parties who “may work on creating a digital economy measurement framework.”

They may also need to come up with measurements and projections of the size of the digital economy for states along with rankings of states based on the size of their digital economies.

A report released by the Indian government in 2019 on India's trillion-dollar digital opportunity noted that digital transformation could empower un-served and under-served segments and create $1 trillion in economic value in 2025, sustaining 60-65 million jobs.

It also revealed that “$390-500 billion of this $1 trillion economic value would come from digital applications in core economic and social sectors like agriculture, health, and education.”

“The study identified 30 digital themes ranging from IT infrastructure, software capabilities, and healthcare education to next-generation financial service. To achieve this, concerted action is required in a 'Team India' spirit with collaboration between government and private or social sectors,” the IT ministry said in the invitation for proposals.

The initial meeting of the working group is likely to be held in the early second week of March 2023, for the purpose of assessment of proposals on the subject.

The primary tasks of the interested parties included identifying digital interventions to realise India’s trillion-dollar digital economy potential and the challenges in implementing them.

They will have to conduct research and statistical analysis on the digital economy and Digital India initiatives for helping in decision-making.

The tasks also include setting up and maintaining a dashboard for the digital economy, and studying and analysis of any other subject or sector contributing to the digital economy.

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