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The recent study conducted by New Delhi-based International Council for Research in International Economic Relations (ICRIER) entitled ‘Estimating the Value of New Generation Internet based Application Services in India' has revealed that Internet-based applications holds a potential of contributing to around Rs 18 lakh crores to India’s Gross Domestic Product (GDP) by 2020. The study has been released by telecom minister Manoj Sinha in New Delhi, estimated the internet’s contribution to grow to nearly 16% of India’s GDP by 2020. “As per the study, a 17% increase in the total internet traffic in India in 2015-16 contributed to an increase of Rs7 lakh crore (7 trillion) in GDP of which at least Rs 1.4 lakh crores (Rs. 1.4 trillion ) was due to internet-based app services. This puts the...

By Peter Thal Larsen and Robyn Mak (Reuters)- India will not rescue the global economy in 2016. The subcontinent’s expanding GDP is one of next year’s few economic bright spots. But Indian output is still too small. Any negative shocks from the sluggish United States and decelerating China will reverberate more widely. India is finally emerging from China’s shadow in the global growth stakes. Helped by a controversial overhaul of its GDP statistics, the Indian economy probably expanded by 7.5 percent in 2015 and is set to swell by a further 7.8 percent in 2016. Contrast that with the People’s Republic, which is struggling to maintain the near-7 percent pace promised by its leaders. The prospect of sustained rapid growth has drawn the attention of prominent central bankers. India’s ec...

Tag: GDP statistics

Internet Based Applications To Contribute Rs 18 Trillions To GDP by 2020: Report

Global economy depends on more than India in 2016