OPPORTUNITIES AND CHALLENGES OF DIGITAL ECONOMY IN INDIA

Author Name: 1Dr. B. Sankar Naik, 2Dr. M. Reddi Naik

Volume: 01 &  Issue:

Country: India

DOI NO.: 08.2020-25662434, DOI Link: http://www.doi-ds.org/doilink/09.2020-92593772/

Affiliation:

: ¹Assistant Professor, Department Of Management Studies, Sir Vishveshwaraiah Institute Of Science And Technology, Madanapalle, A.P, INDIA.

² Assistant Professor, Govt. Degree And P.G College, Puttur, A.P, INDIA

ABSTRACT

Digital economies emerged as a core engine of global economic growth in the 21st century, and also addressed common global challenges effectively. It refers to a wide variety of economic activities including the use of digital knowledge, the successful use of ICT as an integral driver of productivity growth and economic structural optimisation. Internet, cloud computing, big data, the Internet of Things ( IoT) and other new technologies are used for digitally capturing , storing, analysing and allocating information and transforming social communication. The aim of this research paper is to understand Digital Economy, Challenges and opportunities in Indian.This paper is focused on the secondary details. The Indian digital economy is not an economic practise that is generally promoted, and GDP figures do not account of the economic benefits of the digital economy such as savings on time, expanded opportunities and lower commodity prices.Our Digital India initiative has shown that digitisation has a tremendous power to solve many of the socioconomic problems that lead to a more egalitarian society. We are introducing the programme "Digital India," with a mission to empower the country's common man with a vision on three main areas. By 2025, India could build an $800 billion to $1 trillion digital economy (value equal to 18to23 per cent of the country's nominal GDP). It will raise GDP by enhancing lending funds and bytransaction costs as the economy transitions into digital payment modes.It will help to conclude that digital systems are in the current and future period.

Key words: Digital Economy, Information and Communication Technology, Internet of Things (IoT), Cloud Computing, Big Data, and Digital India.