K.V. Kamath, former ICICI Bank chief, on February 27 said that incremental contribution of the digital space to the economy will be around 20-25 percent, five years from now.
“Five years from now if we look at India, how much incremental contribution there will be to the digital economy is going to be, to me, a very exciting number. And that number, I would think, will not be less than 20 percent. I think it's in the 20-25 percent of the economy. So we are all undercounting our growth. So we have a growth that is put out now. But nobody has a fix on what digital India contribute, it's going to be a significant part not only in terms of growth, but also in terms of employment generation,” Kamath said in an exclusive chat with CNBC TV18..
He added that India is already at the start of the technological change, and the whole digital process and the impact of digitisation in India and its impact on the GDP will probably be the next exercise that economists should really work on.
Also read: Adani Group crisis: Veteran banker KV Kamath says ‘no single group carves out destiny of the nation’‘Digitalisation will incrementally contribute 20-25% to the economy 5 years from now’ KV Kamath, Chairman NaBFID discusses the impact of digital transformation & cost of technology with @shereenbhan pic.twitter.com/ylTqgsYsQ3
— CNBC-TV18 (@CNBCTV18News) February 27, 2023
