digital economy

Speaking at the Grand Finale of Smart India Hackathon on Saturday evening, PM Modi said, with this thinking, necessary ecosystem is being rapidly prepared in the country for innovation, research, design, development and entrepreneurship.

Digital technologies will create new types of work at the same time as they act as substitutes for labour. Repetitive tasks performed by both low- and high-skilled labour will likely be automated. Technology adoption may further increase income inequality by increasing demand for high-skill labour and suppressing wages for low-skill labour.