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The Data Centered Economy: A New Temple for a New India

Author

Listed:
  • Rajat Kathuria

    (Indian Council for Research on International Economic Relations (ICRIER))

  • Mansi Kedia

    (Indian Council for Research on International Economic Relations (ICRIER))

  • Kaushambi Bagchi

Abstract

The Indian economy is at the doorstep of a '1 trillion-dollar opportunity' anchored around its burgeoning digital economy. The trillion-dollar digital opportunity is inspired by a growing market for a host of digital services, platforms, applications, content and solutions. India's digital universe is rapidly expanding. In March 2019, India's Internet user base exceeded 500 million and is set to reach 627 million by end of 2019. India's growing digital wealth is now being propelled by rural India, which registered a 35 percent growth in Internet users last year, dwarfing the all India growth of 18 percent. While data driven technologies such as AI, Machine to Machine, Internet of Things, thriving on open data regimes, are creating opportunities for business growth; India's public digital-identity system, Aadhaar, also offers a platform to correct years of mismanaged governance. Designed to prevent the diversion of public funds under the direct benefit transfer (DBT) regime, Aadhaar is rapidly becoming the basis for other new services. Because data affords immense opportunities across the development spectrum and because it is set to become all pervasive, we find it compelling to borrow the phraseology to recast 'data' as the new Temple of a New India.

Suggested Citation

  • Rajat Kathuria & Mansi Kedia & Kaushambi Bagchi, 2019. "The Data Centered Economy: A New Temple for a New India," Indian Council for Research on International Economic Relations (ICRIER) Report 19-r-16, Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.
    • Handle: RePEc:bdc:report:19-r-16
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