Role of information communication technology in Indian economic growth?
AnswerRole of information communication technology in Indian economic growth?
Communication has been pivotal in human development by facilitating the sharing of knowledge, ideas, and culture across generations and geographic boundaries. It has enabled collaboration, fostering social cohesion and collective problem-solving, which are essential for innovation and progress. Moreover, advancements in communication technologies have accelerated globalization, allowing for the exchange of information and resources at an unprecedented scale, ultimately driving economic growth and social change.
iformation tachnology Science, technology and innovation have become key factors contributing to economic growth in both advanced and developing economies. In the knowledge economy, information circulates at the international level through trade in goods and services, direct investment and technology flows, and the movement of people. Information and communication technologies (ICT) have been at the heart of economic changes for more than a decade. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth. Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction. As a result, multinational firms are a primary vehicle of the everspreading process of globalization. New technologies and their implementation in productive activities are changing the economic structure and contributing to productivity increases in OECD economies. Economic competitiveness depends on productivity level and in the knowledge economy, ICT sectors determine the productivity level. As a result , we can say that the power of economic competitiveness of a country depends on the productivity of its ICT sector. There are two ways to improve the TFP of ICT and to improve the power of competitiveness. First of all, if the selected countries solve their inefficiency problem by reallocation of resources, they can improve their TFP of the ICT sector and as a result they can be more competitive. Secondly, the technological improvement in these countries creates an expectation about increasing TFP of ICT sector for future. If there will be a sustainable technological improvement by innovation, it will cause a sustainable increase in the TFP of ICT sector and as a result it will cause a sustainable increase in competitiveness.
Electricity and communication are essential for development as they provide the foundational services that drive economic growth, improve quality of life, and facilitate access to information. Reliable electricity supports industries, enhances education, and enables healthcare services, while effective communication networks promote connectivity, collaboration, and the dissemination of knowledge. Together, they empower individuals and communities, fostering innovation and enabling participation in the global economy. Without these infrastructures, progress in various sectors would be severely hindered.
Upward communication typically involves feedback, suggestions, and concerns from employees to management. It often includes reports on performance, challenges faced at the operational level, and ideas for improvement. This type of communication helps management understand employee perspectives and fosters a collaborative work environment. It is essential for informed decision-making and organizational growth.
Im not for sure but ii do kno the construction of a multicellular organism requires communication between cells, to regulate patterns of growth and differentiation.!!
Information technology is one of our times. In present days, there is hardly any field not touched by the impact of IT. The economic development of the country is directly influenced by IT so we need IT for a country to develop.
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Technology contributes to the growth and development of the economy by increasing productivity, creating new industries and jobs, improving efficiency in business operations, and facilitating global trade and communication. Additionally, technology enables innovation and the development of new products and services, which can drive economic growth and competitiveness.
IT park is Information Technology park.. with latest infrastructure for software and information technology growth.
Any increase in Labor, Capital, or Technology
it did not begin until the economic growth becasue they did not have that kind of technology back then
Technology plays several critical roles in modern society, including enhancing communication, improving efficiency, and driving innovation. It enables access to information and connectivity across the globe, facilitating collaboration and knowledge sharing. Additionally, technology streamlines processes in various industries, leading to increased productivity and economic growth. Overall, it shapes how we live, work, and interact with one another.
There are only three factors that constitute and contribute to economic growth: Labor, Capital, Technology.
The purpose of technology is to enhance human capabilities and improve quality of life by solving problems and increasing efficiency. It enables communication, facilitates access to information, and fosters innovation across various fields. Additionally, technology aids in automating tasks, reducing labor, and driving economic growth. Ultimately, it serves to make everyday tasks easier and more convenient while addressing societal challenges.
The rapid advancement of technology has significantly impacted society in various ways, from transforming communication and access to information to revolutionizing industries and creating new opportunities for innovation and growth.
because it have a big but
Andrea Bassanini has written: 'Knowledge, technology and economic growth'