Keen to make India $1 trillion dollar digital economy says Ravi Shankar Prasad

Union minister Ravi Shankar Prasad said that the government is looking forward to making India a $1 trillion digital economy that is well and truly dominated by digital payments & service, e-commerce, Internet of Things (I0T) and new technology powered by Artificial Intelligence (Al) and Machine Learning (ML).

“It took India 55 years to become a $1 trillion economy. In the last 5 years of the Narendra Modi government, we have reached the $2.7 trillion mark. We now wish to realize the goal of becoming a $5 trillion economy. In the digital sphere itself, we are keen to make India a $1 trillion economy,” Prasad said.

PM Modi (Credits: DNA India)

Speaking at the ‘Google for India’ event in New Delhi, Prasad said the government is keenly working on creating an India visualized by Prime Minister Narendra Modi in 2014, where IT + IT = IT (Information Technology + India Talent = India Tomorrow).

“Digital India is designed to empower ordinary Indians with technology and make their lives better and most importantly, foster digital inclusion. From digital services to financial technology to job search to buying grocery, the country is moving on a fast lane of digital empowerment:” the Union minister for electronics and Information Technology added.

Giving a perfect example of the massive growth of digital payments in India, Prasad added that the government promotes the use of such technology to give Indians access to different platforms.

Prasad also said that the Centre is putting constant efforts to promote extensive use of digital platforms and services in the country, with the IT department laying down several policies on software products, open source and electronic manufacturing.

Elaborating the future of electronic manufacturing in India, Prasad said that India is today the 2nd biggest mobile manufacturer in the world.

“India is emerging as a big center for electronic manufacturing. From just two mobile factories in 2014, India now has 269 mobile factories in 2019. In Noida alone, 92 factories have been set up,” he said, adding that the Indian government wants to transform the country into a huge centre for mobile manufacturing.

Appreciating Google for launching several user-friendly products and amplifying its footprint to the rural areas, Prasad echoed that he has asked the US-based search giant to make India a “launchpad” for its products.

The Union Minister went on to express a great leap of faith that tech giants like Google will play a significant role in helping realize the $1 trillion digital economy target and then urged the tech firm to “Make (products) in India and export them to the world”.