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Internet services sector
Why is it in the news ?
- According to a new study by the Internet and Mobile Association of India (IAMAI), the internet services sector is estimated to grow to a $124 billion market by 2022.
- The Internet services sector in the country, which currently employs around one million people, is expected to create 12 million new jobs by 2022.
More in the news
- The internet services sector in India includes : e-tail, fintech, food tech, digital classifieds, digital advertisements, e-travel and ticketing.
- The report suggests that the sector can reach $124 billion if certain critical factors are realized. These include:
- Supportive government policies.
- Better infrastructure for widespread internet connectivity.
- Developed distribution network enabling better reach.
- Connectivity to customers in Tier II/III cities for e-commerce.
- Adoption of digital and advanced technologies across the ecosystem.
- The new technologies like the Internet of Things(IoT) and artificial intelligence(AI) are expected to shape the future of internet services.
- But the IoT and AI have been kept outside the ambit of this study because the real impact of these sectors is difficult to determine at present.
Employment Generation
- Primary employment generation in fields that include product design and development and sales and marketing.
- Secondary employment generation will occur in the forms of self-employment generation for sellers, cab drivers, utility service providers and content creators who will be able to generate employment via online platforms.
- The third or tertiary level of employment generation will be by allied industries in the ecosystem providing on-ground field support to the internet service providers like third party warehouse and logistics handlers.
Source
LiveMint.