According to the State of India's Digital Economy (SIDE) Report 2025, India is ranked as the third-largest digitalized economy globally, trailing only the United States and China. Driven by rapid digital infrastructure expansion and AI, the digital economy is projected to contribute 20% to India's GDP by 2029–30, growing at twice the rate of the overall economy.
According to the State of India's Digital Economy Report, 2024, unveiled by the Indian Council for Research on International Economic Relations (ICRIER) stated that India comes in third place in terms of the digitalisation of the economy. India's digital infrastructure has been a key driver of its third-place ranking.
The top six digital economies by size are the US, China, the UK, Japan, Germany, and South Korea. The digital economy will see 6.9% CAGR from 2023 to 2028, growing faster than global GDP. The digital economy is driven by: E-commerce, tech spend, and exports.
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International rankings of India
Maharashtra – India's Richest State by GDP
Maharashtra tops the list as the richest state in India 2025,contributing 3% of India's GDP. With a per capita income of Rs 2.89 lakh, the Maharashtra GDPis powered by Mumbai's financial hub with manufacturing in Pune, Bollywood and high service exports.
Richest Countries by GDP (PPP)
The United States comes second, followed by India, whose rapid growth pushes its PPP GDP past $17 trillion. Japan and Russia round out the top five, with significant industrial and energy sectors underpinning their positions.
China has the highest average real GDP growth of 8.0% over the time period. India, now the world's fifth largest economy (surpassing the UK), grew at an average rate of 6.4% per year.
India secured 38th position in Global Innovation Index among the top innovative economies globally as per Global Innovation Index (GII) 2025.
1 in digital payments? India has emerged as the global leader in fast payments, according to a recent note by the International Monetary Fund. This is primarily driven by the Unified Payments Interface (UPI), which processes billions of transactions monthly.
Growth in AI/ML, cybersecurity, cloud computing, data analytics, and IT services is increasing employability and productivity across sectors. With this, India's digital economy is emerging as a significant contributor to its economic growth, accounting for 11.74% of the GDP in 2022-23.
Despite global headwinds such as higher US tariffs and volatile capital outflows, India posted an impressive 8% growth in the first half of the fiscal, powered by robust private consumption and investment, aided by easing inflation and favorable rural conditions.
Mukesh Ambani, the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 14 consecutive years. He is currently world's 10th richest person in the world according to Forbes.
The United States is the world's richest country by a wide margin. It's a global hub for finance, tech, energy, and entertainment. From Silicon Valley to Wall Street, American firms shape worldwide trends. The country benefits from vast natural resources, advanced infrastructure, and a culture of innovation.
As of FY 2024–25, Maharashtra leads with the highest Gross State Domestic Product (GSDP) of ₹42.67 lakh crore (approx. US$498 billion), solidifying its position as India's most developed state in terms of economic output.
Bihar is consistently ranked as India's poorest state by metrics like the Multidimensional Poverty Index (MPI) and per capita income, with significant portions of its population in poverty, though figures vary by report and year, often followed by Jharkhand, Uttar Pradesh, and Madhya Pradesh. While these states lag in development, indicating a significant gap with wealthier states like Goa and Kerala, the BIMARU acronym highlights this historical trend, despite some recent growth.
Assam emerged as the fastest-growing state economy, recording 45% growth. Its GSDP rose from Rs 2.4 lakh crore in FY20 to Rs 3.5 lakh crore in FY25. The state's economy is majorly dependent on agriculture, oil and gas, and rising infrastructure.
Best Countries to Migrate from India