Unprecedented adoption of e-utilities has already charged up the digital space
Cryptocurrencies, unicorns, decacorns, IPOs, super apps, data breaches became a part of drawing room conversations in 2021 — a year when India’s digital economy boomed.
The year saw legacy conglomerates like Tata and Reliance expand aggressively into the digital space with quite a few acquisitions and launches under Tata Digital and Jio Platforms, respectively. Several important pending Bills and policies across data protection, cryptocurrencies, e-commerce and social media intermediaries were fast tracked. A lot of this was driven by an unprecedented digital adoption of payments, e-commerce, social media, healthcare, education, remote working and every other possible utility. In 2022, the digital economy will continue its upward journey, propelled by the listing frenzy of internet start-ups towards the end of 2021. The listings have boosted investor confidence in the internet economy space.
Funding rush
Rameesh Kailasam, CEO, IndiaTech.Org, told BusinessLine, “Last three years of our efforts with SEBI and government finally took shape in 2021 with the listing of Indian start-ups in India. Two years ago, we had predicted that once this is triggered, we will see an exponential surge from the average $8-10 billion fund inflow into start-ups to a range of $30-40 billion, as we are seeing now.”
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