\n
\nBy 2020, this contribution is expected to grow to 16% or Rs 36 lakh crores, half of which will be driven by apps, the study predicted.
\n
\nThe study suggested that a 10% increase in global internet traffic delivers on average a 1.3% increase in global GDP. An increase of 10% in the global mobile internet traffic would lead to 0.7% increase in global GDP.
\n
\nInterestingly, apps contributed a minimum of Rs 1357.6 billion in the year 2015-16 to India’s GDP. “Today, apps are contributing 70% to the mobile traffic,” said Rajat Kathuria, Director and Chief Executive, ICRIER while explaining the study.
\n
\nThe findings of the study suggested that the Internet economy could contribute up to $537.4 billion to India’s GDP in 2020, of which a minimum of $270.9 billion would be contributed by apps.
\n
The study has also worked on in-depth case studies of 16 service and app companies which include Makemytrip, Practo, PayTM, Urbanclap, Netflix<\/a>, Wynk, Byju’s, Truecaller, farMart and MP Mobile.
\n
\n“Regulation, globally, is evolving to strike the right balance between protecting consumer\/business interests and encouraging the ecosystem to innovate further. India needs to chart its own course from a policy perspective considering the significant higher impact on its economy. It needs to resist the temptation to follow global precedence or come up with defining laws without active stakeholder discussion,” said TV Ramachandran, President, Broadband India Forum.
\n
\nThe study has put up 10 recommendations to accelerate the growth of internet economy in India, one of the key recommendations being addressing the lack of digital infrastructure.
\n
\nSome of the recommendations are investing in India’s e-governance app ecosystem, strengthening cyber security infrastructure, developing a systematic approach to regulations and disentangling regulatory needs among other recommendations.\n<\/body>","next_sibling":[{"msid":59597085,"title":"Provide high speed net to broadband users: C'tisgarh HC to DoT","entity_type":"ARTICLE","link":"\/news\/provide-high-speed-net-to-broadband-users-ctisgarh-hc-to-dot\/59597085","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59596202,"entity_type":"ARTICLE","title":"India\u2019s internet economy driven by apps to contribute 16% to India\u2019s GDP in 2020: Study","synopsis":"An increase of 17% internet traffic in India contributed to an increase of Rs 7 lakh crore in Gross Domestic Product (GDP) of India, thereby contributing 5.6% to India\u2019s GDP in 2015-16, according to a study by ICRIER and Broadband India Forum.","titleseo":"telecomnews\/indias-internet-economy-driven-by-apps-to-contribute-16-to-indias-gdp-in-2020-study","status":"ACTIVE","authors":[{"author_name":"Tina Gurnaney","author_link":"\/author\/479244810\/tina-gurnaney","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479244810.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479244810,"author_name":"Tina Gurnaney","author_seo_name":"tina-gurnaney","designation":"Correspondent","agency":false}}],"analytics":{"comments":0,"views":621,"shares":0,"engagementtimems":2425000,"url":"https:\/\/ettelecom.indiatimes.com\/telecomnews\/indias-internet-economy-driven-by-apps-to-contribute-16-to-indias-gdp-in-2020-study\/articleshow\/59596202.cms"},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2017-07-14 19:30:30","lastupd":"2020-01-06 13:23:11","breadcrumbTags":["ICRIER","forum","gdp","Insights","broadband india","Netflix","Internet"],"secinfo":{"seolocation":"telecomnews\/indias-internet-economy-driven-by-apps-to-contribute-16-to-indias-gdp-in-2020-study"}}" data-news_link="//www.iser-br.com/news/indias-internet-economy-driven-by-apps-to-contribute-16-to-indias-gdp-in-2020-study/59596202">