Digitization in India: Growth Opportunities for Different Sectors
Isn’t it amazing that with just a few clicks your favorite dish, clothes, books, electronics, medicines and even a cab reaches you within a short span of time? This has become possible due to the ongoing digital revolution in India. The Govt. of India launched the revolutionary ‘Digital India’ campaign in September 2015 with the goal of making all the services available to citizens electronically by improving online infrastructure and increasing Internet connectivity.
The move is very well getting into form in the country.
Let’s explore how far it has helped different sectors to grow and what opportunities for growth it possesses for them.
According to reports by Indian Brand Equity Foundation,the Indian electronics market, one of the largest in the globe is expected to reach a turnover of US$ 400 bn in 2022, up from US$ 69.6 bn in 2012. The market is envisaged to grow at a compound annual rate of 29.4% during the period 2015-2020. As per the estimation, the total production of electronics hardware goods in India will touch US$ 104 bn by 2020.The skyrocketing customer base and the improved penetration in consumer durable segment have provided scope for the growth of the sector. Besides, digitization is also leading to increased broadband penetration and opening up newer avenues for electronics companies of the country.
To back digitization, the Govt. is building infrastructure which has resulted in mushroomingemployment opportunities for the unemployed youths in the country. Thousands of freelancers are getting work for this initiative; they are playing a major role in digitizing the official documents for the Govt.
The sphere of e-commerce has not been aloof from the benefits of Digital India. Under the initiative, rural and semi-rural areas have got better internet connectivity which has provided better scope for e-commerce in such regions.
Post launch of the campaign, the Union Health Ministry has rolled out many healthcare related schemes giving opportunities for growth to the sector as well as its stakeholders. eHealth is an essential project under the Digital India initiative that aims to tackle the deficit of over 1.5 million doctors in the country. Numerous digital platforms have been launched for creating online access to pharmacies, doctors, information on health issues, knowledge about health insurance etc.
By adding more than 110 mn new smart phones every year and becoming one of the biggest consumers of data in the world, India is leapfrogging to a ‘Mobile First’ nation. With stimulating business opportunities provided by the Digital India initiative, stakeholders are proactively contributing and fairly claiming their stake in the progress of the nation.