India’s internet economy is expected to double from $125 billion to $250 billion — growing from the current 5 percent to 7.5 percent of the country’s GDP — by 2020.
A report from Boston Consulting Group (BCG) and The Indus Entrepreneurs (TIE) said on Friday that India, which has over 391 million users, is already the second highest country in terms of mobile internet users.
There will be 650 million mobile internet users by 2020. Data consumption in India could potentially increase 10 to 14 times by 2020.
By 2020, 4G enabled devices are expected to grow 6 times to 550 million devices, constituting 70 percent devices in use. Reliable high speed data is becoming both ubiquitous as well as mass affordable.
“High-speed mobile internet adoption is set to reach 550 million users by 2020, almost 85 per cent of the total mobile internet users, said Nimisha Jain, a BCG partner and co-author of the report.
Average data consumption is projected to reach 7-10GB per user per month by 2020.
“Innovation is leading to sustainability and sustainable growth in the entrepreneurship ecosystem will enable India to chart its own success story,” said Geetika Dayal, executive director of TiE Delhi-NCR.
