VFX Internet economy may reach $200 billion by 2020: Ravi Shankar Prasad -

Internet economy may reach $200 billion by 2020: Ravi Shankar Prasad

Faster computer literacy in India can help the internet economy touch $200 billion by 2020 to contribute five percent of the country’s gross domestic product (GDP), Communications and IT Minister Ravi Shankar Prasad said at an event organised by the Internet And Mobile Association of India (IAMAI) on Wednesday.

He termed the Digital India Programme launched by the NDA government as a game changer and said broadband is going to play a key role in it.

Prasad released the India@Digital.Bharat report which has suggested measures to the government to facilitate over three times growth of Internet economy from about $ 60 billion at present to $ 200 billion by 2020.

“For the internet economy to touch $200 billion by 2020 that will contribute five percent of GDP, we need to move at a fast pace towards computer literacy. The other key areas which will help the internet economy to grow is mobile internet. The government is committed to digitisation and we look at extensive PPP to have successful implementation,” he said.

“India’s growth is interlinked to the Digital India programme. The government is dedicated to creating a digital ecosystem that will enable internet to touch the lives of all Indians,” he said.

“We need to look at creating hubs in rural India that will help grow e-commerce, which remains unexplored so far. Unless connectivity reaches every village of India, the dynamics of growth will remain unchanged,” the minister added.

The number of internet users in rural areas will touch 210 million by 2018, aiding India’s internet user base to cross 500 million by 2018.

“India is the third country in the world to have over five internet companies valued at over $1 billion. India is the fastest growing internet country but we need to move from narrow band to broadband at the earliest,” said Google India MD and IAMAI chairman Rajan Anandan.

Prasad had recently told Parliament that the NOFN project, which aims to connect 2.5 lakh village panchayats with 100 megabit per second download speed, will be completed by December 2016.