How has technology influenced the growth of the Indian economy

Explain the impact of technology on the growth of the Indian economy.
Technology has played a crucial role in India's economic growth, and here are some of the ways in which it has impacted the Indian economy:
  • Increased productivity: Technology has enabled India to achieve high productivity levels in several sectors, such as manufacturing, agriculture, and services. This has also led to an increase in competitiveness, both domestically and globally.
  • Rise of the IT sector: The IT sector has had a significant impact on the Indian economy, contributing to around 8% of the country's GDP. It has also led to the creation of jobs and increased revenue through software exports.
  • Improved communication and connectivity: Technology has improved communication and connectivity across India, making it easier for businesses to operate and access information. This has also helped in reducing the rural-urban divide in terms of access to information and services.
  • Fostering entrepreneurship: Technology has made it easier for entrepreneurs to start and run businesses, leading to a rise in the number of startups and innovation in various sectors.
Overall, technology has had a significant impact on the Indian economy by enabling growth and progress in various sectors.
Answered a year ago
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