40% of job Roles in India are Expected to Evolve by 2030: Report To address this shift, the Skill India initiative aims to train 400 million individuals in emerging skills
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India's rapid progress in building a robust digital economy is drawing global attention, particularly from developed nations. In 2022-23, India's digital economy contributed 11.74 per cent to the national income, amounting to INR 31.64 lakh crore (USD 402 billion). Furthermore, India's fintech sector is projected to become a financial powerhouse by 2030, generating USD 200 billion in revenue and managing assets worth USD 1 trillion.
A recent KPMG report, "India's Digital Dividend: A Strategic Roadmap Towards Becoming a Global Digital Leader," highlights India's influence in the global digital economy. The report emphasizes India's potential to emerge as a global digital leader by leveraging technology to address critical challenges, including sustainable governance, urban planning, job creation, and climate change.
It also showcases India's remarkable achievements in digital transformation. Over 1.38 billion Aadhaar cards have been issued, providing a solid foundation for digital identity. High-speed internet is now accessible to more than 950 million people, and over 644,000 villages are digitally connected. Additionally, digital payments have surged, with UPI transactions reaching USD 1.6 billion in FY23-24, demonstrating widespread adoption.
The report also notes, 40 per cent of job roles are expected to evolve by 2030. To address this shift, the Skill India initiative aims to train 400 million individuals in emerging skills.
In parallel, the government has allocated USD 1.2 billion for the IndiaAI mission, underscoring its commitment to leveraging artificial intelligence for development.
The report calls for collaboration among policymakers, businesses, and stakeholders to harness India's digital capabilities to build an inclusive and sustainable future. This vision aligns with the government's Viksit Bharat 2047 initiative, which aims to make India a developed nation by its centenary of independence.
Bill Thomas, Global Chairman of KPMG International, acknowledged India's progress, stating that the country is well-positioned to drive growth, foster innovation, and build a more inclusive society.
"The world is grappling with an array of rapid technological shifts, from the rise of AI to evolving regulation. This report highlights the key role India is playing in helping tackle these challenges, leveraging its digital assets to drive growth, foster innovation, and build a more inclusive society. India's strong progress has created the potential for the country to become a true digital powerhouse," said Thomas
However, to become a global digital leader, India needs to leverage emerging technologies to address global challenges, strengthen public-private partnerships in healthcare and education, and position India as a leader in AI skills within the G20.
