A seminar was organised by ICRIER with key stakeholders in India’s Internet economy on November 20, 2015. Participants from government, industry and academia join the seminar. The objective was to consult with informed stakeholders on how to define or characterise an open internet. ICRIER presented its initial estimate of the value generated by the internet economy. This was followed by a discussion on various models of internet governance and their influence on the value of L to R: Shankar Acharya, Rinku Murgai, Finn Trap, Jukka Pirttila and Himanshu at the seminar on Inequality: Trends Worldwide and in India | 67 | India’s internet economy. There was a consensus that various stakeholders of the internet economy are differently suited to take the lead on issues of governance. Even as certain issues require strong participation by governmental agencies, such as cyber security and dispute resolution, those of privacy and freedom of speech must include decision makers from civil society and industry. Hence, a context specific, multi-stakeholder structure of governance is likely to generate the most value. The need to balance the rights of connected users (to a reasonably unrestricted Internet) with future users currently offline was emphasised.