‘Digital economy can create over 60 m jobs by 2025’

At a time when technologies such as artificial intelligence (AI) are seen as rendering millions jobless, a recent report from McKinsey Global Institute (MGI) says that digital economy has the potential to unlock productivity and create 60-65 million jobs by 2025.

The report, ‘Digital India: Technology to transform a connected nation’, estimates India’s labour force to grow to 545 million by 2025, from 480 million in 2017, aided by core digital sectors, newly digitising sectors, government services and labour markets, thereby creating economic value.

Retraining needed

But the report also cautions that retraining and redeployment will be essential to help some 40-45 million workers, whose jobs could be displaced or transformed by the digital revolution.