This year report is centered around the theme "India's Digital Revolution.” 

Key Findings of the report

• Digital economy: In the last decade, global digital economy grew 2.5 times faster than physical economy to account for 15% of global GDP.
  • Digital economy currently accounts for a tenth of India’s GDP and is poised to constitute a fifth of GDP by 2026.
  • Growth factors: Internet penetration, low data cost, highest mobile data consumption, large startup ecosystem etc. 
• Globally, India ranks first in biometric-based identification (Aadhaar) and real-time payments volume.
• Digital Public Infrastructure (DPI): DPI is going global through Modular Open Source Identity Platform (MOSIP) programme; interlinkage and broadening of UPI with other nations’ fast payment systems like Singapore’s PayNow, etc. 
• Social Welfare: Bridging economic inequalities via Direct Benefit Transfer.
  • By harnessing DPI, India has lifted 415 million people from poverty between 2005-2021 (UNDP, 2023).

Challenges to Digitalization

• Consumer Vulnerability: In 2022-23, 47% of RBI ombudsman complaints were about digital payments.
• Cyber Security: In India, average cost of data breaches stands at US$ 2.18 million in 2023, a 28 per cent increase since 2020.
• Use of Dark Pattern: Misleading design tactics in digital interfaces that manipulate users into unintended actions.