Digitalization in India: A Needed Gadget for Business Environment

Abstract

This paper brings to light the importance, challenges and advantages of digitalization in India. Digitalization refers the adoption or increase in use of digital or computer technology by an organization, industry, country, etc. The relative close word Digitization refers an object, image, sound, document or a signal by generating a series of numbers that describe a discrete set of its points.  In the world the digital economy is the new productivity platform which is regarded as the third industrial revolution. India is an initiative of the Central Government of India “designed to transform India into a global digitized hub” by reviving a rundown digital sector of India with the help of improving digital connectivity and skill enhancement and various other incentives to make the country digitally empowered in the field of technology. The Union Government in 2016 announced 11 technology initiatives that include the use data analytics to nab tax evaders, creating a substantial opportunity for IT companies to build out the systems that will be required. But the initiatives are suffering from lacks many components like lack of legal framework, absence of privacy  and data protection laws, hindrances to civil liberties, lack of parliamentary oversight for e-surveillance in India,  lack of intelligence related reforms in India, insecurity of Indian cyberspace, etc. It is mandatory that economy has to push merits of Digitalization and check the problems arise from digitalization. In the era of Globalization transactions are increasing. Hence, digitalization is to be given priority for both quick and transparent business transactions.