India aiming 25 per cent digital economy, says minister

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By Our Correspondent

New Delhi, July 2: India is aiming 25 per cent of its economy to be digital, said Union Minister for Electronics and IT Rajeev Chandrasekhar.

The Prime Minister Narendra Modi-led government at the Centre is betting high on the start-ups to drive the technology-driven economy, aiming a transformation in the post-pandemic world order.

“We want to take the digital economy to be 25 per cent of the total economy,” said Chandrasekhar in London after calling on the British Prime Minister Boris Johnson.

Chandrasekhar is in the UL with a delegation of entrepreneurs of the start-ups to explore the opportunities in the technology space.

“The UK government also wants to expand the slice of that pie (digital economy) too,” said Chandrasekhar.

The Minister met Johnson along with a delegation of Indian startups, Unicorns and innovators. “They both discussed about future collaborations and partnerships between India and UK in innovation and technology sector,” said the Ministry of Electronics and IT in an official statement.

“India is now designing 5G gear and manufacturing the devices that go into making of 5G products,” added Chandrasekhar.

He stated that the data economy has created an awareness that something needs to be done for the safety of user citizens. “We as policymakers have to look at data from the prism of user safety. In the growth of the internet and big tech influence, we are at an inflection point. Safety and trust will be paramount, and India can’t do that alone, we need to work with partner countries in shaping the future of a secure internet,” said Chandrasekhar.

It’s worthwhile to note that the government maintains that Indian start-up eco-system is growing fast, with 75000 of them working in diverse areas.

India has about 103 Unicorns, each valued at USD 1 billion and above, while their total valuation is stated to be USD 330 billion.

Over 100 start-ups are working in the space sector alone on critical technology, including the launch vehicles and small satellites, bring in the new talents in the buzzing start-up space.

Modi in his recent radio broadcast ‘Mann Ki Baat’ has said that start-ups are now spreading in the rural parts of the country, giving solutions in areas of public interests and concerns.