According to an article published in the latest Bulletin of the Reserve Bank of India, between 2014 and 2019, India's digital economy grew 2.4 times faster than the general economy and created about 62.4 million jobs. The size of the digital economy has increased from US$ 107.7 billion in 2014 to US$ 222.5 billion in 2019. In absolute US dollar terms, India's digital economy displayed a growth rate (compound annual growth rate, CAGR) of 15.62 percent between 2014 and 2019, while India's gross domestic product (GVA) grew at a compound annual rate of 6.59%.
This shows that India's digital economy has grown 2.4 times faster than the Indian economy, says the RBI's Department of Economic and Policy Research.
India's core digital economy (hardware, software publishing, web publishing, telecommunication services, and specialized and ancillary services) has grown. It increased from 5.4 percent of Gross Value Added (GVA) in 2014 to 8.5 percent in 2019.
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