Despite rapid spread of digital technologies in India, nearly a billion people still need to connect to the internet for pushing growth, creating jobs and accessing public services, says a World Bank report. The Bank also pointed out that India has most restrictive market regulation in retail finance and banking.

“At least 8 in 10 individuals in India own a mobile phone and digital technologies are spreading rapidly . With nearly a billion people still not connected to the internet, the opportunities for increasing access to digital technology for creating higher growth, more jobs, and better public services are significant for India,” said the World Development Report 2016: Digital Dividends, by co-directors, Deepak Mishra and Uwe Deichmann.Releasing the report in India on Tuesday , Mishra said that dig ital development strategies in India need to be broader than Information and Communication Technology (ICT) strategies.”There is little doubt about the transformative potential of digital technologies. However, they are not a shortcut to development, though they can be an accelerator when used in the right way ,” he said.

India is the largest exporter of ICT services and skilled manpower in the developing world.The BPO industry currently employs over 3.1 million workers, 30% of them are women. World Bank country director in India Onno Ruhl said digital revolution is transforming the world, aiding information flow and creating huge opportunities for growth and poverty reduction.