The Internet's contribution to India's gross domestic product (GDP) will double in the next three years, according to a new report by McKinsey & Co.

The report, released on Wednesday, said that the Internet's direct impact on the country's GDP, through consumption & investment, was estimated at 1.6 per cent ($30 billion) at 2005 prices, and added that there was a potential to double the Internet's contribution to the economy to 2.8-3.3 per cent by 2015.

McKinsey & Co Partner Chan-dra Gnasambandam said, "The Internet currently contributes a modest 1.6 per cent to India's GDP. This could grow to 2.8 to 3.3 per cent by 2015, if India achieves its potential for growth in the number of Internet users and Internet technology-related consumption and investment."

India's potential to expand Internet services and devices industry will generate an estimated of around 2.2 crore jobs in the next three years. Technology industry related to Internet includes PCs, smartphone sales, broadband subscription, e-commerce and investment in new technologies such as websites and Cloud.

Currently, India's exports from information & communication technology (ICT) sector are the most important component of the Internet's impact on the country's economy but consumption and investment from private & public sector have greater potential to expand in the future.

Currently, India is the third-largest Internet user, with around 120 million Internet users. By the year of 2015, the country will become the second-largest Internet users, with an estimated of 330-370 million users.