Current Trends in Indian Economy
India’s Digital Economy
▪ India’s telecom sector is the second-largest globally.
▪ India is the third-largest start-up hub globally, with significant growth in AI, machine learning, and digital sectors.
▪ UPI has set global standards in digital transactions, contributing to a digital revolution.
▪ The government is focused on technological and economic development to achieve the vision of a developed India by 2047 , following the principle of “Initiate, Improve, and Transform (IIT).
▪ India aims to reach ₹50,000 crore in defence exports by 2029.
▪ Current Status: Achieved 88% self-sufficiency in ammunition production; defence exports stood at ₹23,000 crore in 2023-24.
