As companies in this digital era are connected via the Internet, technology experts and researchers are gauging the impact of information technology on a country’s gross domestic product (GDP). A nation’s economic productivity mainly provides an aggregate measure of its production, which is the sum total of its overall institutional units employed in the production process.

According to a recent research conducted by one of the leading research houses across the globe, McKinsey, the internet has accounted for about 21% of a matured economy’s growth in the last five years. With more than 2 billion people connected through the web, nearly $8 trillion worth of transactions every day exchange hands through the eCommerce.

In such a scenario, market commentators are evaluating whether the rising adoption of cloud computing across the globe is driving a country’s productive capacity? Let’s dig deeper to understand this:

The technology pundits are striving to identify the best options for large-to-mid and small size businesses. They believe that small enterprises were initially more reluctant and slow to adopt the cloud technology due to the uncertainty of the service provider’s contracts and services. However, with the tightening of government policies and stringent regulatory norms, these firms have gained more confidence on this cutting edge technology and have migrated to the cloud.

Today, the global economies are converting the computing options to the economic growth opportunities in order to unleash the potential of the online cloud data storage solutions to establish a strong and wide network of the nation-wise digital coordinators that can play a strategic role in the big data development within the cloud. This will further create a group of digital controller from every member country worldwide.

However, this global push is challenged by the growing cyber crimes and cloud scandals. A recent survey conducted by the Cloud Security Alliance in the US indicated that nearly 56% of the respondents are less likely to adopt cloud computing service from a vendor based in the country. This further indicated that the providers are likely to lose approximately $26 billion revenues by the year 2016, which accounts for about 20% of their share in the foreign cloud services market.

However, there is growing conviction that countries based in the Asia-Pacific region, including India, have the enthusiasm to create cloud capabilities that can move European nations in the protectionist direction. But this will severely affect the US-based service providers, currently accounting for roughly 85% share of cloud services globally.

The above statistics and facts clearly indicate that a nation can boost its economic productivity and growth by tapping the potential of the cloud technology and build trans-national trade & investment partnerships. In this light, India is considered as one of the fastest growing destinations offering superior cloud computing solutions in a highly secured environment.