The creator economy, exemplified by successful Indian YouTube channel Physics Voila, has contributed over 10,000 crore rupees to Indian GDP and generated over 750,000 jobs. This trickles down to indirect jobs through spending on office space, equipment, and IT services. The creator economy has the power to propel India to a $1 trillion digital economy.
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.