PA Department of Community and Economic Development
The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds.
400 North Street Harrisburg Pennsylvania 17120 United States
Sector Spotlight: ICT Business Opportunities in India
January 26, 2022 - 9:00 am - 10:00 am EST
The Information and Communication Technology (ICT) sector and the Digital Economy are major economic drivers in India. Pennsylvania companies are encouraged to join this session to learn more about the tremendous opportunities in India’s ICT sector.
India aims to reach a $1 trillion digital economy and a $5 trillion GDP by 2025.
India’s digital economy generates approximately $200 billion annually from information technology (IT) and business process management (IT-BPM), IT-enabled services (ITeS), e-commerce, electronics manufacturing, digital payments, and digital communication services.
India’s cybersecurity service industry is growing rapidly as the country’s digital economy and critical infrastructure sectors expand,
India has emerged as the second largest manufacturer of mobile handsets in the world. At 1.2 billion (1.18 billion wireless and 20 million wired), India has the second largest number of telecom subscribers in the world. India has 778 million (755 million wireless and 22 million wired) broadband subscribers.
Technology investments by Indian enterprises in India grew from $38 billion in 2017 to $45 billion in 2021.
Major drivers of this growth include digitalization and the modernization of services. The banking, financial services, and insurance (BFSI), manufacturing, retail, consumer packaged goods, media, and entertainment industries are all adopting digital innovations to transform their business models.
Enterprises are adopting new tools and technologies such as chatbots, natural language processing, robotic process automation, cognitive analytics, security operations centers, internet of things (IoT), 3D printing, data analytics, cloud computing, artificial intelligence, connected vehicles, blockchain, and augmented/virtual reality to improve services and experiences for their customers.
For any questions on this upcoming webinar, contact Jennifer Black, Executive Director for Export Development.