How has technology helped in the growth of the Indian economy

Explain the role of technology in the growth of the Indian economy and its impact on the overall development of the country.
Technology has played an instrumental role in the growth of the Indian economy. The impact of technology can be seen in various sectors of the economy and has been crucial in facilitating growth. Some of the ways in which technology has helped the Indian economy are:
  • Increased productivity: Technology has facilitated the adoption of automation, machine learning, and artificial intelligence, which have resulted in increased productivity across various sectors.
  • Improved communication: Technology has enabled quicker and effective communication between businesses, customers, and suppliers, which has reduced time and costs. This has resulted in the growth of e-commerce, online banking, and other digital transactions.
  • Efficient business operations: Technology has made it possible to track, manage, and analyze data in real-time, resulting in improved business operations and decision-making.
  • Improved healthcare: Technology has contributed to the growth of the healthcare sector in India and has enabled better access to medical facilities, diagnostics, and treatments.
  • Increased financial inclusion: Technology has enabled the growth of financial institutions and digital transactions, which has increased financial inclusion and reduced the percentage of the unbanked population in the country.
Overall, technology has had a significant impact on the growth of the Indian economy, and its continued adoption is expected to usher in a new era of development and progress.
Answered a year ago
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