Here’s How India’s IT And Electronics Sector Can Boost The Economy By 2023

The Modi government’s ‘Make in India’ and ‘Digital India’ initiatives will act as gateways for spurring growth of India’s technology and electronics sector that even comprises of telecom industry. At IESA Vision Summit, Ajay Kumar, additional secretary of Department of Electronics and IT (DeitY), said this sector has a potential to contribute no less than 25% to the country’s GDP as it is expected to be $1-trillion opportunity in next 5-7 years.

Kumar further added that this opportunity includes “$400 billion of hardware, $350 billion of software and $250 billion of telecom and Internet of Things.”

As the Centre had already facilitated development of 159 electronics systems design and manufacturing (ESDM) production units in India last year to boost the ecosystem, “it is the easiest time in Indian history to start and grow a company in India,” added Kumar.

With an initial plan of Rs 1.13 lakh crore, Modi’s Digital India program focuses on developing well-connected-and-empowered economy with 100% tele-density, broadband for all, public Internet access program, digital lockers, e-sign service, etc.

In the last 10 months, the country has witnessed establishment of 50 mobile manufacturing units, which has created 20,000 new jobs in the country, claimed DeitY.

“Except mobile phones, other devices have penetrated only about 6-10% of Indian population be it laptop, washing machine, medical devices. In comparable countries the same is 62%,” said Kumar.
(Image: BCCL)

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