Overview

"Indian Economy in a Digital World" is designed to provide learners with a comprehensive understanding of the intersection between the Indian economy and the transformative impact of digital technologies. In an era of technological advancements reshaping economic landscapes, this course offers insights into how India navigates this digital revolution and its implications for economic growth, sectors, and policies. Learners will get insights into how disruptive technologies enable new business models, change policy dynamics, and influence socio-economic development in India. After completing this course, a learner will be able to: • Examine the historical evolution of India’s economy from its Independence to the digital age • Analyze the impact of digital technologies and platforms on key sectors of the Indian economy • Analyze the Digital India Program and its components • Examine the role of foundational digital public infrastructure in enabling innovation, efficiency, and transparency • Understand the competitive nature of market economy driven by digital platforms • Synthesize interdisciplinary perspectives from economics, technology, skill development, public policy, business strategy, and data ethics around the digital economy.

Syllabus

Welcome to Indian Economy in a Digital World

"Indian Economy in a Digital World" is designed to provide learners with a comprehensive understanding of the intersection between the Indian economy and the transformative impact of digital technologies. In an era of technological advancements reshaping economic landscapes, this course offers insights into how India navigates this digital revolution and its implications for economic growth, sectors, and policies. Learners will get insights into how disruptive technologies enable new business models, change policy dynamics, and influence socio-economic development in India.

Indian Economy

In this module, we will briefly look at the historical aspects of India’s economy and its progression from the time of independence to the current times. We will also explore how the dynamics of several industries have shaped the economy driven by changing policies and world order. We will also delve into the agriculture and services sector, and the challenges faced by the Indian economy.

Digital Economy: Key Concepts and Determinants

This module will cover the basic components of the digital economy from a people, process, and technology perspective. The importance of e-commerce and online platforms and their impact on the regulatory structure and labor market will also be explored. The module will explore the evolution of digital payments and the impact it had on the economy.

Digital India: Background and Program

In this module, we will explore the motivations and genesis of the Digital India program. We will examine the evolution of digital infrastructure, connectivity, and governance aspects in the manufacturing and financial services industry. Digital India has had an impact on the global payments industry. We will understand the current perspectives on the Digital India program.

Digital Public Infrastructure

In the digital age, public infrastructure is no longer confined to physical roads, bridges, and utilities. The virtual space has become pivotal in connecting citizens, delivering services, and driving the modern economy. As this digital transformation ensues, nations grapple with how to construct resilient, efficient, and equitable digital public infrastructure. We will explore the digital public infrastructure's emerging landscape and how it shapes governance and public service delivery. Learn the conceptual foundations and real-world case studies related to developing inclusive, secure, and ethical public digital infrastructure.

Platform Economics and Competitive Dynamics

Platforms play significant roles in economic growth by facilitating connections, fostering innovation, increasing efficiency, and promoting access to resources. Platforms can contribute to economic growth by lowering barriers to entry, promoting competition, and creating new business models and job opportunities. In this module, we will look at the different platforms and how they impact the demand and supply side of commerce, the role of Artificial Intelligence, and review real-life case studies.

Future of India's Digital Economy

India's digital economy is experiencing a phenomenal rise, and experts predict continued exponential growth in the coming years. A joint report by Google, Temasek, and Bain & Company estimates that the Indian digital economy will reach a staggering $1 trillion by 2030, signifying a six-fold increase from its current valuation. This will have a broad-based impact in internet and e-commerce penetration. Emerging Technologies like Artificial Intelligence, Blockchain and Internet of Things is likely to become more mainstream impacting employment opportunities in the knowledge economy, improving financial inclusion, and fostering innovation and entrepreneurship. Challenges due to cybersecurity, data privacy and skill development will require robust policy initiatives and implementation.