Government to Follow 5-year Plan to Reach USD 300 Billion Digital Economy

Digital economyIndia will follow a 5-year prospective plan on the roadmap to achieve $300-billion digital economy target that we have set for ourselves in the electronics sector, said MoS Electronics and IT Rajeev Chandrasekhar.

The minister, while speaking at the Valedictory Session at the 4th CII Global Electronics Summit titled – India gearing up to manufacture for the World also mentioned India’s policy around the electronic sector is broadening and deepening the electronics ecosystem.

Recently, the IT ministry released a vision document on ‘increasing India’s electronics exports and share in global value chain.’ The vision document suggests the country needs a policy prescription to grow from the current about $75 billion in 2020-21 to $300 billion by 2025.

The minister said electronics manufacturing was almost a dead activity in the country prior to 2014. “Since 2014, under the guidance of our prime minister we have demonstrated that electronics manufacturing is something that we are capable of.

Although we are just 3% of the $ 1.5 trillion Global electronics market which is a small drop in the ocean but we have made tremendous progress from being at 1.9 lakh crore (2014) to 5 lakh crore (2019-20),” informed the minister.

While addressing the gathering, the minister also highlighted the MeitY’s vision 1,000 days that aims towards achieving $ 1 trillion Digital economy for AtmaNirbhar Bharat. “There may be different opinions on the means to reach the ultimate Goal of $300 billion Digital economy, but there is absolute alignment of intention amongst all stakeholders towards reaching it,” said the minister.

CII had organised a 2 day Global Electronics Summit where in different sessions were organized on Gearing up India to Manufacture for the World.

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