India, July 18 -- India's digital economy is expected to grow nearly twice as fast as its overall economy, contributing almost a fifth of the nation's income by 2029-30. Rapid advancements in mobile connectivity and digital payments have transformed industries ranging from e-commerce to financial services. Government initiatives like Digital India and the expansion of 5G infrastructure have further accelerated the adoption of digital services, bringing more businesses and consumers into the digital fold.

The booming e-commerce and quick-commerce industries have redefined the country's retail landscape. Digital growth is primarily facilitated by the ease and ubiquity of the Unified Payment Interface (UPI) system. In 2024, India recorded a...