Indian digital economy to touch USD 1 trillion in the next 5-7 years: Ravi Shankar Prasad

The government is trying to push Indian digital economy to USD 1 trillion in the next 5-7 years and also two consultant firms are working on its roadmap, said, union minister for IT and electronics and law and justice, Ravi Shankar Prasad while addressing an ASSOCHAM 2nd International Technology Summit 2017.

All this is happening because Indians have passion for technology. India has emerged as the 3rd biggest startup movement in the world and the best young brains are now creating jobs through start-ups.

The number of mobile phones added in India over the last 2.5 years equals the population of Italy or France. Of the targeted 2.5 lakh gram panchayats are to be connected via optical fibre under the national optical fibre network programme, now called ‘BharatNet’, around 1 lakh has already been connected.

He said, “When our government came to power in May 2014, only 358 km of optical fibres had been laid. In the last three years, we laid 2, 10,000 km and linked 1,00,000 gram panchayats with it by the end of this year.”

- Advertisement -

In three years about 105 mobile manufacturing factories have come in India and India is becoming a big hub of electronics and mobile manufacturing. 32 have come in Noida and Greater Noida said the minister.

The union minister also said that there have been three phases of growth of India’s IT industry, whereby in phase one Indian IT companies became the ‘good outsouce in the world’ while in phase two international giants like Amazon, Facebook, Whatsapp others came to India considering it a huge market.

The third phase is that of India’s domestic IT initiative, startup movement which is growing very fast with 3-4 startups are coming up every day, said Mr Prasad.

“We have to find middle path. On middle path, I have always said that data availability, data utility, data anonymity, data privacy — on these four principle if we proceed then surely India will robust framework,” he concluded.

-By Abid Hasan

- Advertisement -
Loading form…

Industry's Buzz

Anoop Kumar Rai Takes Charge as BEL Director (Marketing)

0
Beyond defence applications, Rai has driven BEL’s diversification into civilian infrastructure Bharat Electronics Limited (BEL) has appointed Anoop Kumar Rai as its Director (Marketing), effective...

BEL Appoints Ambrish Tripathi as Director (Human Resources)

0
Tripathi’s appointment comes as BEL continues to expand its capabilities across defence and strategic technologies Bharat Electronics Limited (BEL) has appointed Ambrish Tripathi as Director...

Suzlon Adds 250 MW Torrent Order, Crosses 1.1 GW in FY27 Orders 

0
Suzlon has secured a 250 MW wind energy order from Torrent Green Energy, taking their cumulative partnership to more than 1.3 GW across three...
Chip Making (representational Image)

India to Revise Semiconductor Rules Within Two Months, Says Piyush Goyal 

0
The planned changes aim to simplify approvals and make it easier for semiconductor manufacturers to source equipment and components from global suppliers.  India will amend...

North American EMS Book-to-Bill Ratio Rises to 1.29 in July 2026

0
The Association cautioned that month-to-month movements can be affected by seasonality and short-term volatility The North American electronics manufacturing services (EMS) sector recorded a book-to-bill...

Learn From Leaders

(L-R) Nikesh Gondchawar, Strategic & Technical Advisor – Robotics Manufacturing; Shrikrushna Kakade, Founder Partner; Nikhil Kakade, Senior Technical Advisor – Robotics & Control Systems, SlightGen Solutions LLP

“A Made-In-India Robotic PCB Soldering System That Automates The Through-Hole Soldering Process!” – Shrikrushna...

0
Electronics manufacturing is complex, and automation often comes at a high cost. To bridge this gap and offer a more affordable solution in India,...
Navdeep Narula, Executive Director, Client and Endpoint Solutions, Ingram Micro, India

“Enterprise Computing Is Shifting From CPU to GPU And Now Toward NPU-Based Systems ”...

0
The shift from CPU to GPU to NPU-based computing is redefining today’s enterprise endpoints. In an exclusive conversation, Navdeep Narula from Ingram Micro discusses...

India’s Robotics Push Opens New Hardware Opportunities

0
How do you build India’s physical AI future when critical robot components still come from overseas? Niqo Robotics reveals where the gaps remain.  India’s push...
Gadhadar Reddy, CEO and Founder, NoPo Nanotechnologies

How A Material Thinner Than Human Hair Could Transform EV Batteries And Electronics –...

0
What if a material 200,000 times thinner than a human hair could transform EV batteries, semiconductors, and advanced electronics? NoPo Nanotechnologies is making that...
Raja Rajeev Kumar, Mentor at IIT Startups, Chairman of the Board of Trustees, LaxmiRamaVarma Holdings International, and Founder and CEO, ChromoSoul Ventures

“Build Strong Startups, and Funding Will Follow”- Raja Rajeev Kumar, IIT Startups, LaxmiRamaVarma Holdings...

0
While AI and software startups attract attention and capital, electronics ventures often struggle for both. Raja Rajeev Kumar from IIT Startups, LaxmiRamaVarma Holdings International...

Startups

(L to R) C2i Semiconductors Founders—Vikram Gakhar, Founder & Director, Mixed Signal; Preetam Tadeparthy, Founder, CTO, VP, Engineering; Ram Anant, Founder & CEO; B.S. Dattatreya, Founder & Director, Power

Bengaluru Startup Targets AI Data Centre Power Delivery

0
C2i is building power systems that can help AI servers use electricity more efficiently and reliably. Two friends, Ram Anant and Preetam Tadeparthy, were working...
(L-R) Sri Kusulu Devalla, Co-Founder and Hetendra Singh Rathore, Founder, Segritech

“We don’t just sort fruit; we match every quality grade with the right buyer.”...

0
An agritech startup has developed an AI-powered machine that sorts and grades fruits directly on farms, helping reduce post-harvest losses by connecting produce with...
Akshar Vastarpara, Founder and CEO, Vicharak

“Our SBCs Are Designed As Complete Edge-Computing Platforms That Combine Everything On A Single...

0
An Indian startup builds affordable edge AI boards for robots, drones, and industry, positioning them as Raspberry Pi alternatives. In an EFY interview with...
Dr Naveen Yanduru, CEO, Axiro Semiconductor Private Limited

“India Can Lead In IP—If It BacksIts Own Builders”

0
Axiro Semiconductor designs RF and satellite chips, ships millions worldwide, and retains its startup mindset while tackling complex technical challenges. In a conversation with...
Dr Sanjay Ahuja, Founder and CEO of Cionlabs, India

“We are solving India-specific challenges rather than offering generic ‘black box’ IoT solutions.”

0
From hybrid mesh networking to AI-enabled edge devices, an Indian IoT startup is developing home-grown solutions to improve connectivity, strengthen privacy and support the...