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Coronavirus pandemic has led to increased digitisation of Indian economy

India moves towards rapid digitisation

The Coronavirus pandemic has given a huge push to digitization, which could have a permanent impact on the Indian economic landscape, industry body Assocham said.

“Our digital infrastructure needs to be enhanced to tackle this phenomenon. Commitment and urgent actions to promote long term growth of the digital economy that are required to improve the health of the industry and the investments in the digital infrastructure,” Deepak Sood, secretary general, Assocham said at a virtual event –Enabling a Trillion Dollar Digital Economy.

P Balaji, chairman, National Council on Digital Communications, also present at the event said that a data-driven economy like India demands continuous cycles of investment, especially with the aim to meet the vision of a trillion dollar digital economy.

He added that while the telecom industry is the foundation of the digital revolution – other platforms and apps are needed for a collaborative effort to grow the digital economy.

“The digital ecosystem is interlinked and interconnected. Success of the digital economy depends upon each and every component of the ecosystem,” he said.

The speakers noted while the digital economy has the potential to bring 90 per cent of the informal sector into the formal umbrella, it is important to encourage private sector participation and investment.