Digital economy poised to be 20% of GDP by 2026: RBI report

MUMBAI: The sweeping digitisation of the financial markets and payments system will drive the country’s digital economy, which currently accounts for a tenth of the GDP, and constitute a fifth or 20 percent of the GDP by 2026 says a report prepared by the Reserve Bank.

Several enabling forces have come together to energise this revolution. Although internet penetration was at 55 percent in 2023, the internet user base has grown by 199 million in the recent three years. Our cost per gigabyte of data consumed is the lowest globally at an average of Rs 13.32 ($0.16) per GB and the country also has one of the highest mobile data consumption in the world,