Page 1 of 13
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 03
March 2019
Available online:https://ejbss.org/ P a g e | 979
Digital Economy In India: Opportunities And
Challenges
Renu
Asstt. Prof. Commerce
GCW Madlauda, Panipat
Abstract
There is no doubt in denying the fact the digital India is nothing
but the starting of digital revolution in India. It is a means by
which, the government thinks, the services can be accessible to
the people of India electronically. No doubt, with the
digitalization, the people from remote areas can also enjoy these
services with the help of internet facilities and online
infrastructure. With the digitalization in India, the government
has a mission and target to make India updated economically
and digitally. The measure taken by Indian government will,
undoubtedly, facilitate the people of India to get engaged in the
innovative process which is the need of the hour for the
development of any country. Without any shadow of doubts, it is
indeed a big challenge as there are number of hindrance in the
successful implementation of this dream like project. In the
problems involved with programme, low internet speed, lack of
coordination among various departments, poor infrastructure
and, last but not the least, digital illiteracy are worthy of detailed
consideration. For the success of digitalization, first and the
foremost requirement is to make people aware of these
challenges, because once it is implemented successfully, it will
pave the way of opportunities for the citizens of India.
Key Words: Definition, Digital Economy, Components,
Demonetization Impacts, Opportunities Challenges.
Page 2 of 13
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 03
March 2019
Available online:https://ejbss.org/ P a g e | 980
Introduction
In this age of digital economy, it has become necessary for every
country in the world to adopt it seriously as it has become the
need of the hour. But, at the same time, it is also a challenge. In
the society surrounding us, people, communities, government
and even business organizations are following the digital
technology to take decisions, to make goods and to deliver
services more digital economy refers to both the digital access of
goods and services, and the use of digital technology to help
businesses. Digital economy is a term that is often used to cover
this activity, but is hard to define.
At present time when throughout the whole world, information
and communication technologies continue to advance at
incredible speed, Digitalization in every walk of life is one of the
most fundamental period of transformation we have ever
witnessed. Digital India was a flagship programme launched by
the Prime Minister of India Narendra Modi on 1 July 2015 – with
keeping in view an objective of connecting rural areas with high- speed internet networks and improving digital literacy. The vision
of this programme is to transform India into a digitally
empowered society and knowledge economy. It is one of the
biggest steps by government of India to motivate the citizen of the
country and connect Indian economy to knowledge savvy world.
What one can witness in india is that the Indian digital economy
is not a conventionally marketed economic activity, and GDP
figures do not take account of economic benefits of the digital
economy, such as time saved, increased choice, and lower cost of
products. Technology is going to revolutionizing business,
transforming virtually all aspects of the economy and society. No
doubt, the digital economy is the new productivity platform that
some experts regard as the third industrial revolution. Digital
Page 3 of 13
European Journal of Business &
Social Sciences
Available at https://ejbss.org/
ISSN: 2235-767X
Volume 07 Issue 03
March 2019
Available online:https://ejbss.org/ P a g e | 981
revolution, also labeled as the Internet Economy or Internet of
Everything is expected to generate new market growth
opportunities.
At present, there are number of social and economic activities
that can be included under the concept of Digital economy
activities that are enabled by information and communications
technologies. Activities like banking, buying and selling, and
accessing education or entertainment using the internet and
connected devices. The digital economy is not separate to the
economy. It affects all industries and business types and
influences the way we interact with each other every day.
It is an established fact that Digital economy is a term that is
often used to cover this activity, but e Indian digital economy is
not a conventionally marketed economic activity, and GDP figures
do not take account of economic benefits of the digital economy,
such as time saved, increased choice, and lower cost of products.
Technology is going to revolutionize or is already revolutionizing
business, transforming virtually all aspects of the economy and
society.
The digital economy is the new productivity platform that some
experts regard as the third industrial revolution. Everything is
expected to describe the range of economic and social activities
that are enabled by information and communications
technologies. It includes activities like banking, buying and
selling, and accessing education or entertainment using the
internet and connected devices. The digital economy cannot be
separated from the term economy. It impacts all industries way
we interact with each other every day. It also recognizes that as
sectors become data driven their economic structures change,
industry boundaries blur, and the basis of competition changes.
