In a recent development, the Centre is reportedly engaged in discussions to appoint an agency tasked with measuring the actual size of India’s digital economy. According to a media report on Sunday, the digital economy is estimated to reach USD 1 trillion by 2025. The assigned agency will have a nine-month period to complete the task, as stated in the report.

The primary responsibility of the agency will be to submit a draft report on the estimation of the digital economy’s size, along with projections from the current financial year to FY 2029-2030. The Ministry of Electronics and IT (MeitY) will oversee the submission within 32 weeks from the date of selection.

To achieve this goal, the Centre has released a request for proposal, inviting propositions in the field of estimating and measuring India’s digital economy. The proposal also emphasises the formulation of a framework to encompass various aspects of the digital economy and outlines the process of data collection and identification of digital interventions.

The report will not only examine the rankings of states and their contributions to the digital economy but also delve into the impact of e-commerce and emerging technologies on the economy. It further emphasises the need for collective action involving government, private, and social sectors to collaborate on this initiative.

It is worth noting that the Ministry of Electronics and IT (MeitY) previously published a report titled ‘India’s Trillion Dollar Digital Opportunity.’ The report identified 30 digital themes, including IT infrastructure, software capabilities, healthcare, education, and next-generation financial services, highlighting the immense potential for growth in the digital sector.

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