YouTube says its creator ecosystem contributed over 10,000 crore rupees to the Indian GDP and helped create more than 750,000 full-time equivalent jobs. India's new gateway to the world is SaaS or software as a service. 75% of the revenues of Indian SaaS companies now come from global customers. Over 1,500 funded companies building all kinds of SaaS products in India.
On Tuesday, Google, Temasek (an investment company) and Bain & Co. (a management consulting company) released a joint report about India’s internet economy or ‘e-Conomy’ as they called it. They believe we’re going to become a $1 trillion ‘internet’ economy by 2030.
After all, we have 700 million internet users who spend an average of 6.5 hours online every day. And the kicker? We engage in 65 real-time digital payment transactions per capita per year. This is 2.5 times higher than the global average.
So in today’s episode for 8th June 2023, we cherry-pick 3 insights from the 100-page report which we think you’ll find quite interesting.