India’s digital economy to be $1tn in 5-7 years: Minister

India’s IT Minister Ravi Shankar Prasad on Tuesday said India’s digital economy is going to be US$1tn in the next five-seven years from the current size of US$400bn.

“India’s digital economy is currently US$400bn and in the coming five-seven years, it is going to become a US$1tn economy,” the minister said at a session organised by the Indian Chamber of Commerce.

According to Prasad, the digital economy includes communication, IT and IT enabled services, electronic manufacturing, cyber security, ecommerce and digital payments.