Digital Prosperity for Asia launches in India to harness the unrealized potential of the digital economy: inviting Indian digital businesses to join

Bengaluru, Karnataka, India (NewsVoir) • Launched in India on November 22, 2022, the new coalition has 17 digital companies from across Asia. • DPA invites Indian and South Asian digital companies to join the coalition and work together with the business and government communities to achieve India’s vision of creating up to USD 1 trillion in economic value from the digital economy by 2025. .

• A new report commissioned by the DPA looking at the digital economy in 11 Asia-Pacific (APAC) countries found that more than triple the value of the US$586 billion attributed to the region’s digital economy could have been captured in the present.

• To remedy this, the DPA is inviting industries to work together in finding solutions to harness the full potential of India and the region’s digital economy. The Digital Prosperity Asia Coalition (DPA) was launched in September 2022. The coalition is the first all-Asia Pacific (APAC) focused alliance, built by local APAC businesses for the prosperity of APAC economies. India currently has 825.3 million internet subscribers and 99% of urban India is online, indicating the immense potential of the Indian market (urban + rural) in terms of growing its digital prosperity. The India chapter of the Digital Prosperity Asia Coalition (DPA), launched on November 22, 2022, is positioned to drive a great wave of digital transformation in India by aligning with core initiatives of the Indian government, such as Digital India. ; Indian skill; Made in India; and Startup India. “The launch of the DPA chapter in India will help support Indian legislators and the industry in general to maximize the use of digital technologies. This new approach will also play a key role in contributing to Prime Minister Modi’s vision of creating a US$5 trillion economy,” said Berges Y Malu, ShareChat Senior Director of Public Policy. The DPA embraces an “Asia-focused local approach” that aims to facilitate engagement and access for local governments, local partners and local connections, while fostering the growth of local digital brands to create forever local impact. . “The alignment between the people of India and the growing digital economy could have a cascading impact for the country. The program would be based mainly on 3 pillars: support of digital products and services for social impact; Regional support to enable digital talents and skills among youth is in line with the vision of the Indian government as well as industry requirements and thirdly, it would foster innovation in the digital economy space of the startups,” said Aditya Batura, CEO of Codomo. In addition, the DPA will promote business-friendly digital policies as government partners to enable a culture of conducive innovation. Being part of DPA’s India chapter will allow members exclusive access to Policy Advocacy Support and Insights; Exposure to venture capitalists and investors; Market Expansion Assistance; and the opportunity to shape thought leadership. As part of the inaugural launch, the DPA commissioned and published a report from strategy consultancy AlphaBeta titled Prosperous APAC: Digital Economy Enablers. The report was developed to quantify the untapped economic potential of the APAC digital economy and to suggest approaches for governments and industry to fully capture the benefits of the digital economy. The report found that the APAC digital economy strengthened after the COVID-19 pandemic, and that the total digital economy of APAC-11 (representing 11 of the largest APAC economies Australia, India, Indonesia, Japan, Malaysia , Pakistan, the Philippines, Singapore, South Korea, Thailand and Vietnam) has a current value of US$586 billion. However, this is only 30% of the full potential of today’s digital economy. Looking to 2030, the size of the prize grows even larger, with APAC economies potentially capturing more than US$2.2 trillion for their digital economies. The report identifies a new approach: ‘Digital Prosperity’ as a key strategy for APAC economies to adopt in order to fully capture the US$2.2 trillion by 2030. The ‘Digital Prosperity’ approach combines the benefits of flexible regulations, widespread access to technologies, and national capabilities and skills. The DPA seeks to promote this approach and seeks like-minded partners to achieve shared prosperity across the region. The 17 current members of the DPA are Accredify, AppMedia, Codomo, CyberLitmus, Doctor2U, Founders Doc, Innovobloc, Kinobi, Madeit?dao, Opn, Peoples Health, People’s Inc., Ringkas, ShareChat, Slab, Quickwork, and 3D Makers. About Digital Prosperity for Asia (DPA) Digital Prosperity for Asia is an organization made up of a growing group of innovative local Asian digital companies that promote the democratization of access to digital technologies across all sectors. Its mission is to support national governments and policy makers in APAC to grow their digital economies and reap the benefits of digital technologies. The coalition is looking for more like-minded APAC companies in the digital space that recognize the importance of growing the digital economy for local value creation and shared prosperity across Asia. Interested companies can contact them through any of their digital contact points. Visit their website at, email them at [email protected] or contact them on LinkedIn.

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)

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