Digital demographics

India’s population of Internet users is projected to more than double to 600 million by 2023 from 250 million now, according to a Goldman Sachs report


Overall ICT spending is likely to increase from 3.8% of GDP to 5.5% of GDP by 2023, the report said. Photo: Priyanka Parashar/Mint
Overall ICT spending is likely to increase from 3.8% of GDP to 5.5% of GDP by 2023, the report said. Photo: Priyanka Parashar/Mint

India’s population of Internet users is projected to more than double to 600 million by 2023 from 250 million now and consumer spending on information and communications technology (ICT) is set to grow to $238 billion from $72 billion, but technology penetration in India is still much lower than in the rest of Asia, according to a Goldman Sachs report titled India’s Digital Dividend. Overall ICT spending is likely to increase from 3.8% of gross domestic product (GDP) to 5.5% of GDP by 2023, the report said.

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