Subhash Chandra Garg- Economy, Finance and Fiscal Policy Strategist

Will India Seize Digital Revolution Opportunity? Policy Reforms for a Digitalised Indian Economy SUBHASH CHANDRA GARG Economy, Finance and Fiscal Policy Strategist and Former Finance and Economic Affairs Secretary, Government of India COMPLETE ARTICLE THE DIGITAL AGE India led the agricultural transformation and became rich for many millennia. India, however, resisted industrial transformation and missed it massively by coming on the bandwagon quite late. The world is now undergoing the third transformation- digitalisation of production of all goods and services. Shall we be able to seize this digital revolution opportunity? Chip, Code and Internet are the Basic Building Blocks of Digital Age Fossil fuels- coal and petroleum- converted to steam and electric energy made industrialisation of economies possible using the technology embedded in machines. The mechanisation engineered fundamental transformation of agricultural economies all over the world. The indu...

Will India Seize Digital Revolution Opportunity? Policy Reforms for a Digitalised Indian Economy SUBHASH CHANDRA GARG Economy, Finance and Fiscal Policy Strategist and Former Finance and Economic Affairs Secretary, Government of India SUMMARY India led the agricultural transformation and became rich for many millennia. India, however, resisted industrial transformation and missed it massively by coming on the bandwagon quite late. The world is now undergoing the third transformation- digitalisation of production of all goods and services. Shall we be able to seize this digital revolution opportunity? The combination of the chip (integrated circuits in the hardware) and the code (coded programming or the software) or the Information Technology and the internet (communication technology using electro-magnetic forces), together referred as Information and Communications Technology or ICT, is the foundation and flourish of ICT revolution. Digital technologies have...