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Digital Evolution Scorecard 2020: India ranked 4th “Break Out Economies”; China Tops

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Digital Evolution ScorecardOn January 11, 2021, the 3rd edition of Digital Evolution Scorecard 2020 developed by Tufts University’s Fletcher School in partnership with Mastercard was released in which India ranked 4th.The scorecard is topped by China followed by Azerbaijan, Indonesia.

  • It should be noted that India doubled its mobile internet connectivity in the last four years It will add 350 million smartphones by 2023.
  • The scorecard was published in the Harvard Business Review in December 2020.
  • In Digital Evolution-State Category, Singapore Topped followed  by United States, Hong Kong.India ranked at 61st position.
  • Earlier the report was released in the year 2014, 2017.

What is offered by the Scorecard?

The scorecard provides clarity about the current state of digital development and digital momentum around the world. It also stated the impact of that digital evolution on countries’ responses to COVID-19 outbreak which caused global economic growth to contract by 4.4% in 2020.

Objective of the Scorecard:

Its objective is to help governments, businesses and investors understand what they need to emerge ahead of the competition.

How was it accessed?

Researchers analysed 90 economies based on a combination of 160 indicators over a 12-year period (2008-2019).

across four supply key drivers:

  • Supply Conditions
  • Demand Conditions
  • Institutional Environment
  • Innovation and Change.

Categories of Scorecard: 4

Break Out Economies

These economies are digitizing very quickly and have a lot of scope to be at par with developed economies. These economies have prioritized improving mobile internet access, affordability, and quality along with generating investments in digital enterprises, funding digital R & D (Research & Development), training digital talent, and leveraging digital applications to create jobs.

Stand Out Economies:

These are the top performing group of this study. The countries named in this category have set benchmarks in digital evolution as well as in continuing its momentum.

  • Leaders: South Korea, Singapore and Hong Kong. Other consistently top performers in the index include Estonia, Taiwan, and the United Arab Emirates (UAE).

Stall Out Economies:

It consists of mostly European Union (EU) economies with matured digital landscapes which are exhibiting less momentum for continued advancement.

Watch Out Economies

These are lacking behind in both digital capabilities as well as momentum for future development.

  • It includes Africa, Latin America, Southern Europe, and some parts of Asia.

Click here to read more about the 3rd edition of Digital Evolution Scorecard 2020.

Recent Related News:

i.On December 7, 2020 Mastercard, National Institute for Micro, Small & Medium Enterprises (ni-msme) and Confederation of Indian Industry (CII) entered into partnership to launch Digital Saksham, a capacity building initiative to drive awareness about digitization for Micro, Small and Medium Enterprises(MSMEs) in India.

ii.According to the data released by OECD “Organisation for Economic Co-operation and Development” in the Most Common birth countries of Highly Educated Migrants residing in OECD Nations, India came at the top with around 3.12 Million Highly Educated Migrants living in the OECD Nations as of 2015-16 data.

About Mastercard:
Chief Executive Officer (CEO)– Michael Miebach
Headquarters – New York, United States (US)