Showing posts with label Mckinsey Global Institute. Show all posts
Showing posts with label Mckinsey Global Institute. Show all posts


McKinsey report: One-third of the global population connects to the internet everyday

The McKinsey Global Institute (MGI) and McKinsey’s Technology, Media and Telecommunications practice's report - ‘Internet matters: The Net’s sweeping impact on growth, jobs, and prosperity’  has come up with interesting  India related findings. This reinforces the importance of the medium to boost commerce, exchange, conversations and progressive political and social values. The report stated that, in India, Internet contributed five per cent to the growth of gross domestic product (GDP) in the last five years, two percentage points higher than the average three per cent for BRIC economies. Significantly, it also stated that,
"India and China are strengthening their position in the global internet ecosystem rapidly with growth rates of more than 20 per cent..."
Talking about the growth of Internet, the report states,
"Since the 1990s, internet has grown leaps and bounds with about two billion users worldwide now. This number is growing by 200 million each year. This means, almost a third of the global population connects to the internet every day and almost $8 trillion a year is spent through e-commerce... 
 ...India leads the growth component of the McKinsey Internet Supply Leadership Index. For example, Bangalore registered 50 patents to 200 in fours years, compared to Singapore which took six years to cross this threshold"
The report has established a clear linkage between internet and growth and has recommended that policymakers push for increased internet access and usage. Crucial to achieving this is a strong public-private partnership. We would definitely see more and more people getting online now, even in India, and this is a medium that would eventually become dominant for business, politics and human interactions. Hence it is important for public diplomacy practitioners to accept the medium as pervasive and strong on influence, and, in a world dominated by corporate media, sometimes it can be more credible and an effective platform for an alternate point of view.  

Suggestions/Critiques welcome.

-- Madhur
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