Digitally-developed economies around the globe are continuing to progress due to larger investments and adoptions in Information Communication Technology, says the newly released Huawei Global Connectivity Index (GCI) 2017.
The study also finds developing economies have started to accelerate their growth by investing strategically in ICT capabilities, yet the gap between them and continues to grow.
This is the fourth annual GCI study that shows how countries are progressing with digital transformation based on 40 unique indicators that cover five technology enablers: broadband, data centres, cloud, big data and Internet of Things.
US tops the list with Singapore and Sweden a close second and third.
India performs well on the key indicators of a knowledge economy but falls behind in its broadband assessments–giving it an overall rank of 43–between Venezuela and Morocco.
For India which has climbed one rank from last year, the government is planning to provide high-speed internet connectivity to 250,000 communities.
The citizens will be provided with a digital identity which will be unique, lifelong, online, and valid.
Government departments will be seamlessly integrated with high-speed optical fibre, which will improve inter operability of these organizations and will result in real-time service delivery from online or mobile platform.
This would stimulate the development of cloud for easy and portable connections for citizens.
It is encouraging to note that over the past 3 years, India has grown faster in ICT infrastructure compared to its global peers including 1.4 times faster growth in investment in cloud, 2.3 times growth in computer households and 1.1 times in Analytics Data Creation per capita.
GCI 2017 study reported the relationship between ICT investment and GDP growth is generally accepted in government and industry.
Examining the GCI 2017 data with numerous economic forecasting models, the report says a nation which increased investment in ICT investment in infrastructure by additional 10% annually from 2017 to 2025 can benefit from a multiplier effect.
Using this economic impact model, the report finds that every additional US$1 of ICT infrastructure investment could bring a return of US$3 in GDP at present, US$3.70 in 2020 and the potential return increases to US$5 in 2025.