India, Feb. 1 -- The Government of India issued the following news release:
Introduction
India's digital economy contributed 11.74% to GDP in 2022-23 (rs 31.64 lakh crore) and employed 14.67 million workers. Productivity in this sector is five times higher than others, with its share projected to reach 20% of GVA by 2029-30. Growth is driven by AI, cloud services, and digital platforms, with India hosting 55% of the world's Global Capability Centers. In the BFSI (Banking, Financial Services, and Insurance) sector, over 95% of banking payment transactions are now digital and digital platforms are expanding at 30% annually. By 2030, the digital economy is expected to be a key driver of national growth.
Unified Payments Interface (UPI)
Lau...