On the basis of previous research, this review paper provides information regarding the impact of digitalization on economy. By collecting and compiling research articles related to the effect of digitalization and information and communication technology on economy in India. The digital economy is not simply about moving business transaction from face to face to online, but it’s about transforming the many facets of business interactions and transactions and enabling innovations too. From the reviews, the variables are Pricing, Speed, Unemployment, GDP, FDI, Money, Governance, Infrastructure etc., have found essential in this.