Transformative changes are taking place in every sector, PM Narendra Modi said

The value of the Indian digital economy will reach 1 trillion dollars by 2025, Prime Minister Narendra Modi told the BRICS Business Forum on Wednesday.

The kind of digital transformation taking place in India today has never been seen on the world stage, he said while addressing the opening session of the forum via video conferencing.

Pointing out that the growth of the digital sector had encouraged the participation of women in the workforce, he said there were approximately 36% women out of 4.4 million professionals working in India's IT sector.

“Transformative changes” were taking place in “New India”, PM Modi said, adding that the government was supporting innovation in every sector, including space, geo-spatial data, drones, and green energy.

“The key pillar of India’s economic recovery is technology-led growth with innovation and startups," he noted.

According to Prime Minister Modi, India has one of the best eco-systems in the world for innovation, which is reflected in the growing number of Indian start-ups.

There are more than 100 unicorns in over 70,000 start-ups in India, and their number continues to grow, he added.

Noting that infrastructure in India was being improved on a large scale, PM Modi said there were investment opportunities of $1.5 trillion under the National Infrastructure Pipeline.

According to Prime Minister Modi, BRICS was established with the belief that this group of emerging economies can evolve as an engine of global growth.

"Today when the whole world is focusing on post-COVID recovery, then the role of BRICS countries will continue to remain very important again," he maintained.