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DIGITAL EVOLUTION SCORECARD 2020: INDIA RANKS 4TH IN 'BREAK OUT ECONOMIES'

DIGITAL EVOLUTION SCORECARD 2020: INDIA RANKS 4TH IN 'BREAK OUT ECONOMIES'

Context

India has been ranked at the 4th position in the third edition of the "Break Out Economies" report.

Details

  • The result was released in the Digital Evolution Scorecard developed by Mastercard in partnership with Tufts University's Fletcher School.
  • The first rank was attained by China, the second rank by Azerbaijan and the third rank by Indonesia.
  • There are four categories under the Digital Evolution Scorecard, they are:
  1. "Stall Out Economies"
  2. "Watch Out Economies"
  3. "Break Out Economies" and
  4. "Stand Out Economies".
  • According to the definition, "Break Out Economies" are those that are digitizing their countries at a very fast pace and still have a lot of room to grow to match the developed economies like in Europe and Singapore.
  • Successful "Break Out Economies" are those that have prioritised improving mobile internet access, affordability, and quality to foster more widespread adoption.
  • The governments of these economies have also taken steps to strengthen institutional environments and developed digital regulations.
  • Furthermore, importance is placed in generating investments in digital enterprises, funding digital R&D, training digital talent, and leveraging digital applications to create jobs.
  • Steps have also been taken to reduce inequities in access to digital tools across gender, class, ethnicity, and geographic boundaries.

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