Maximizing digital dividend

31 OCT,2021 | MEDC


 

India has the unique opportunity to optimize its demographic advantage via its digital dividend. Young entrepreneurs across India are carving out new digital paths and creating online products changing the way we live and work. Our software talent has long been recognized abroad, and domestic policy should also rise to the occasion to revive India’s economic future. Regulation will have to evolve rapidly to prevent monopolization and cartelization, both of which have an adverse effect on the domestic business climate. It is also relatively easy for digital platforms to exploit labour, and employee rights may need special protection. In a country as youthful as ours, digitalization has many benefits, but there are also some important precautions meriting consideration. Digitalization is an effective way to reduce transaction costs and speed up the formalization of the economy, but some of its features need to be carefully managed.

*Photo Credit: Google

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