ICT services to outgrow exports

A report by the United Nations Conference on Trade and Development (UNCTAD) has predicted, “The domestic market for computer services in the country is forecast to grow faster than their exports, fuelled by the government’s Digital India programme, its burgeoning start-up and venture capital scene and increased computer use by the MSMEs (Micro, Small and Medium Enterprises).” 

The size of the global digital economy ranges from 4.5-15.5% of world GDP. US & China, respectively, are the top two names in terms of value addition in the ICT sector, and together accounting for 40% share of total value added. Among the developing countries, India accounts for the largest share in this regard. Between 2010 & 2017, Taiwan ranked as the first country to have growth in share of the ICT sector’s value added in its GDP. India stood at the 4th position in this context and also emerged as the largest developing-country exporter of ICT services.