Rapidly digitalising India was ranked 4th in “Break Out Economies” in the third edition of the Digital Evolution Scorecard developed by Tufts University’s Fletcher School in partnership with Mastercard. China which leads the countries in the “Break Out Economies” group is more evolved digitally due mainly to its combination of rapidly growing demand and innovation.
Third rank Indonesia, and India, which ranks number four in momentum, have displayed increasing digital momentum suggesting the potential to rapidly digitalise for both post-COVID economic recovery and longer-term transformation.
About “Break Out Economies”:
“Break Out Economies” are those that are digitalising very quickly and yet have a lot of room to grow before matching those in the developed economies, such as those in Europe and in more developed Asian countries like Singapore, South Korea, and Hong Kong.
The objective of the Study:
- The objective of the study was to help governments, businesses and investors understand what they need to emerge ahead of the competition.
- To do this, the researchers analysed 90 economies based on a combination of 160 indicators across four supply key drivers: Supply Conditions, Demand Conditions, Institutional Environment, and Innovation and Change.
- A combination of proprietary and public data from more than 45 different databases, as well as analyses conducted by the Fletcher School’s Digital Planet team, was used to explore key questions across the core subject areas.