India’s digital transformation has been very rapid and unprecedented, offering both potential and promise. Internet penetration has grown at a compound annual growth rate (CAGR) of 20.2% and data consumption has grown by 21X over the last five years. India has witnessed the highest-ever smartphone shipments in 2021, clocked the highest real-time online transactions globally and is the fastest-growing e-commerce market. Digital adoption is increasing across both retail and enterprise use cases, and India will be a high-tech society in the next five years. A robust backend infrastructure needs to be set up to support this digital transformation and about $35-40 billion capital expenditure is expected in the sector in the next five years, creating a need for substantial investments in the space.