Friday, Mar 29, 2024 | Last Update : 02:41 AM IST

  Business   In Other News  15 Jul 2018  Indian digital economy will touch USD 1 trillion-mark by 2022: Garg

Indian digital economy will touch USD 1 trillion-mark by 2022: Garg

ANI
Published : Jul 15, 2018, 6:31 pm IST
Updated : Jul 15, 2018, 6:31 pm IST

India is the sixth largest world economy and We would become fifth largest economy by 2022.

Economic Affairs Secretary Subhash Chandra Garg on Saturday said that India's digital economy is expected to touch a USD 1 trillion mark by 2022. (Photo: PTI)
 Economic Affairs Secretary Subhash Chandra Garg on Saturday said that India's digital economy is expected to touch a USD 1 trillion mark by 2022. (Photo: PTI)

New Delhi: Economic Affairs Secretary Subhash Chandra Garg on Saturday said that India's digital economy is expected to touch a USD 1 trillion mark by 2022.

"We expect the Indian economy to be a USD 1 trillion digital economy by 2022 and going forward... possibly by 2030, the digital economy would be half of the total economy," Garg said at the Platinum Jubilee Celebrations of the Institute of Cost Accountants of India (ICAI) here on Saturday.

The Economic Affairs Secretary further said that India is the sixth largest world economy and We would become fifth largest economy by 2022.

"We will become 5th largest economy by 2022. If a situation is favourable then we can become 5th largest economy by 2019 hopefully," he noted. Garg also underscored that today 7-8 percent rate of growth has become a norm. "We have to work hard to grow above the 8 percent growth rate. The economy is stable."

"Good days are ahead and a lot of good work is happening in the economy. The economy is on a stage of takeoff where Indians can legitimately hold their heads high," he said.

Expressing optimism, the Economics Affairs secretary said, "By 2030 we can expect 10 percent growth rate. This is a challenge but we can achieve. This is a challenge as well as an opportunity for us."

His comments came in the backdrop of latest World Bank data showing that India emerged as the sixth largest economy in the world, surpassing France, last year.
India became the sixth largest economy with a GDP of USD 2.59 trillion in 2017.

Tags: subhash chandra garg, digital economy, indian economy
Location: India, Delhi, New Delhi