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  • Essay / Digitization and Indian economy

    The Indian market has grown from just Rs. 4,000.2.7 lakh crore to Rs 57 lakh crore, making it the sixth largest market in the world in terms of GDP and the third largest in terms of power parity purchase price (PPA). The nation ranks 141st in terms of GDP per capita and also 123rd in terms of GDP per capita (PPP) in the 20-16 era. After 1991, the Indian market witnessed many developments from being relegated to opening the door to the global game by allowing LPG (Privatization and Globalization, Privatization and Globalization) from 1991 under the Prime Minister of then, Mr. PV Narasimha Rao, and also the Finance Minister, Dr. Manmohan. Singh. India has recorded moderate GDP growth of 6-7% per year. Between 2015 and 2017, the Indian market became the fastest growing major economy in the world, surpassing China. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essay Digitalization could mean that the mass adoption of connected electronic services by consumers, businesses and authorities is much more than the usual tumultuous waves washing over foreign companies. Initially, individuals were introduced to the use of computers, and automation took every business by storm. Now we can observe the digital universe that exists. Digital World and Digital India: The World Economic Forum, in its own Global Information Technology Report, generated a Network Readiness Index (NRI) about 12 years ago, to attract the attention of policy makers and investors, involving the adoption of financial and business plans that could enable them to grow in the context of a rapidly evolving but professional online economy. Globally, according to the report, 20-16 released by the World Economic Forum, India, ranked 91st in the Network Readiness Index, is one of 139 countries that fell two positions in the total ranking . The change is more marginal, but this decline remains a sign of a slower speed compared to other nations. Under the leadership of the honorable Prime Minister Mr. Narendra Modi, India is gearing up to take on the rest of the world. With its vision of producing an electronic and digital India using its ambitious Bharat Net plan. Because the majority of Indians still have a home in many rural areas where an online connection may be a fantasy, the federal government is building a high-speed electronic superhighway to connect the entire 2.5 lakh Gram Panchayats of the country. It is the largest rural broadband connectivity project using optical fiber in the world. This study will be carried out using all of the following objectives: 1) Understand the different measures of digitalization index. 2) Analyze the effect of digitalization on Indian economic development;2) 3) Examine the different constraints of digitalization. The analysis is qualitative and qualitative in character. Secondary information will be used for this problem diagnosis. Resources for your secondary statistics will come from many sources such as the Special Investigation Team file, documents and websites of the Telecom Regulatory Authority of India and the World Economic Forum. The Digitalization Index measures of digitalization attempt to measure the cumulative influence of the adoption and use of information and communication technologies (ICT). We all know that its holistic adoption and use helps improve economic development. Only six measures ofthe scan indicator are used in the analysis. 1. Affordability: It must be affordable enough to enable scalable impact. 2. Reliability of infrastructure: it is supported by telecommunications networks and reaches the majority of the population of a national territory. 3. Network access: Networks must be accessible by multiple fixed and mobile voice and data devices. 4. Capacity:- Bandwidth is the data rate supported by a network connection. This comes from the field of technology where bandwidth reflects the exact distance between the highest point and the smallest signs on a communicating station (ring). Greater bandwidth indicates greater capacity, but it does not necessarily mean an increase in performance. 5. Utilization: Networks must provide sufficient capacity to deliver large amounts of information at speeds that do not inhibit its effective use. 6. Reliability of human capital infrastructure - It is supported by telecommunications networks and reaches the maximum number of people in the federal territory. A variety of programs undertaken by the Government of India to improve infrastructure would be: 1. Broadband Highways: These ensure three components broadband for most broadband information infrastructure, rural for most infrastructure national and urban information. 2. Universal use of mobile connectivity: “It focuses on understanding the system and the need to address connectivity gaps at the national level. 3. Public Internet Access Program: offering shared service centers (SSCs) and article bureaus as multi-service centers. 4. E-governance: Reforming authorities through technology: Re-engineering government processes using it to simplify and make government procedures more efficient is essential for transformation to better deliver government services in various government areas and therefore must be executed with the ministries/departments. 5. E-Kranti: Electronic Service Delivery: The Federal Government declared the National Electronic Governance Plan (NeGP), consisting of 3-1 Mission Mode Projects (MMP) and 8 elements. E-Kranti is a key pillar of this Digital India initiative. There are also 44 mission mode projects under e-Kranti, which may be in different phases of execution. (includes Banking, Post Office, Taxation, Land Records, Agriculture, Gram Panchayats, etc.) 6. Tips for Many: Internet hosting of documents and information to facilitate open and effortless access to information for taxpayers. 7. Electronics Manufacturing: “It aims to boost electronics in the country with the aim of net zero imports by 2020 due to a striking demonstration of this objective. 8. IT for Employment: “It aims to provide training to the youth on the skills required to secure employment opportunities in the IT/ITES industry. 9. Historical Harvest Programs: These are comprised of those efforts that must be executed within a short time frame. Network Internet access penetration in India increased from just 10 percent in 2011 to 34.08 percent in 2016, registering a direct increase of 89 percent in 2016 compared to 2007. • Urban India, with an estimated population of 444 million, already has 269 million (60 percent) users. the Internet. • Rural India, with an estimated population of 906 million according to the 2011 census, has only 163 million (17%) Internet users. There is therefore a great opportunityto increase penetration in rural areas. • Analysis of 'Daily Users' reveals that in both urban and rural India, younger generations are the most prolific users of the Internet. • Growing internet penetration is expected to boost the growth of e-commerce in India. Indirect and indirect work of this IT-BPM sector in India from FY 2009 to 2017 (in millions) This statistic shows the number of people working, either indirectly or directly, by the Indian IT and business process management sector (IT-BPM) industry from 2008/9 to 2016/17. Direct employment in the IT-BPM sector in India reached 3.9 million people as of 2016/17. Over the past ten years, the IT industry has been blinded by the huge wave of outsourcing by foreign companies. In 2014, the infrastructure outsourcing agency segment accounted for the largest percentage of IT outsourcing spending in India. Digitalization and GDP Growth: With digitalization being a vital economic driver across the world, there is a need to integrate the economy by creating digital economies. Businesses, productivity and prices would be the 3 benefits produced by the economy. It is seen in huge markets, the Internet is the reason why about 3.4 percent of GDP is normally associated with a stable workforce.creation. Throughout the global recession, 6 million jobs were generated globally through the impacts of digitalization, of which 94% came from emerging markets and 6% from developed markets. This shows the possibility of this digitalization in creating employment opportunities. Surveys show that growing savings are more likely to benefit from digitalization than developed markets, because growing markets have a wider range of reducing inefficiencies and boosting production. In India, growing net penetration has accelerated the adoption of technology and increased sale of gadgets such as tablets, tablets, etc., have contributed to an attractive internet customer base and an unprecedented rise in e-commerce. The World Economic Forum (2013) stated in its own report that a 10% increase in the digitalization score of almost every country would contribute to a 0.75% increase in its GDP per capita. Other studies agree that its impact is 4.7 times larger than the ordinary 0.16% effect on GDP per capita for broadband installation (World Economic Forum, 2013). With the rise of online usage, e-commerce companies have not only increased their business activity with many benefits but also given rise to marketing services and services for small sellers by enabling them to access to a more global industry. With the onset of the electronic age, the automation process once again contributes to the reduction of errors and gains in production speed in addition to reducing inefficient movements. The reduction in industry costs is different from sector to sector and from company to company. • Street lighting, which today accounts for 1.5 percent of overall electricity consumption (according to McKinsey) in India, could be changed through digitalization. Motion detection lights can save 70-80% in costs and electricity, based on Cisco pricing. • Use of biometric devices Help track ghost workers and reduce individual bias towards a particular worker Job creation Laying of this broadband system around 2.5 lakh village panchayats of the nation from of 2018 Street broadband may require.