How has technology affected the economy of India in recent years

Discuss the impact of technology on the economy of India in the past few years
Technology has played a significant role in shaping the economy of India in recent years. Here are some of the impacts: 1. Digital payments: The rapid growth of digital payment platforms like Paytm, PhonePe, and Google Pay has revolutionized the way transactions are conducted, reducing reliance on cash and facilitating financial inclusion. 2. E-commerce growth: Platforms like Flipkart and Amazon have expanded access to markets for small sellers and empowered consumers with a wider range of products at competitive prices. 3. Start-up boom: Technology-enabled start-ups have flourished, creating jobs, attracting investments, and generating innovative solutions across sectors such as fintech, edtech, healthtech, and logistics. 4. Automation and productivity: The adoption of advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and robotics has improved operational efficiency and productivity in various industries, driving economic growth. 5. Job market transformation: While technology has created new employment opportunities, it has also disrupted traditional sectors, leading to job displacements and a need for reskilling and upskilling. 6. Digital infrastructure development: The government's initiatives like Digital India and BharatNet have enhanced internet connectivity, enabling businesses, government services, and citizens to leverage technology effectively. Overall, technology has positively influenced the Indian economy, driving digital transformation, innovation, and inclusive growth.
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