A joint report by Google, Temasek, and Bain & Company reveals that India’s internet economy is forecasted to grow six-fold and reach $1 trillion (approximately Rs. 82,58,950 crore) by 2030. The e-commerce sector will be the primary contributor to this surge. In 2022, India’s internet economy was evaluated to be between $155-175 billion. The B2C e-commerce division is anticipated to lead the growth, with B2B e-commerce, software-as-a-service providers, and online media led by over-the-top players following close behind. According to Sanjay Gupta, Google India’s Country Manager & Vice President, most future purchases will be completed digitally. Startups have driven digital innovation, while small and medium-sized businesses and large corporations have embraced digital technologies to increase competitiveness post-pandemic. The report expects B2C e-commerce to increase 5-6 times to $350-380 billion by 2030 from approximately $60-65 billion in 2022, B2B e-commerce to surge 13-14 times to $105-120 billion from approximately $8-9 billion in 2022, and the software-as-a-service sector to grow 5-6 times to $65-75 billion by 2030, up from $12-13 billion in 2022. Vishesh Shrivastav, Temasek’s Managing Director (Investments), stated that India is now a new hope for global GDP growth.
The Motorola Edge 40, the successor to last year’s Edge 30, recently premiered in the country. Is it preferable to purchase this phone instead of the Nothing Phone 1 or the Realme Pro+? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is accessible on various platforms, including Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, and Amazon Music. Please note that affiliate links may be automatically generated – see our ethics statement for details.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
