IT Minister Ravi Shankar Prasad has said that the Government would come out with a new electronic and software product policy as well as a framework for data security and protection.
Prasad who was addressing a high-level meeting with tech industry captains that included Wipro, Google, IBM, Tech Mahindra, NIIT and Hike for charting a roadmap to achieve the 1 trillion dollar digital economy said “India is well set to become US$ 1 Trillion Digital Economy in next 7 years and it rather looks an easy target, however, the challenge would be to reach this target in 3-4 years. I appeal to the industry to join hands with the Government which is firmly believes in openness, supportive and proactive approach.”
The minister also dismissed the reports of job losses saying there is no threat of job losses in the IT Sector. The Government as well as the industry remain upbeat about the IT Sector, as over 6 lakhs of IT jobs were created in last 3 years.
IT Secretary Aruna Sundararajan said the engagement with industry leaders would show the way forward to the US$1Trillion Digital Economy. “There is no doubt that Digital is going to be the growth engine of our economy. The power of Digital lies in its ability to enable inclusive growth, thus leading transformation of an unprecedented scale.
With Digital India driving the rapid expansion of Digital Economy, target of $ 1 trillion, though ambitious, is achievable. Digital India, thus far, has succeeded in creating a robust platform. However, without the active involvement of industry, the real potential of this platform cannot be realized, she said.
Digital India being one of the most important programmes of the Government of India, the Ministry of Electronics & Information Technology (MeitY) held high-level consultation with the industry leaders from IT and ITeS sector with focus on digital financial services and e-commerce. The consultation was conducted for developing the roadmap for One Trillion Dollar Digital Economy in India.
Chaired by IT Minister Ravi Shankar Prasad, it was attended by IT secretary Aruna Sundararajan and Ajay Kumar, Additional Secretary, Ministry of Electronics & Information Technology. The industry was represented by leading corporate houses and industry associations like Infosys, IBM, Wipro, Google, Microsoft, Mahindra Tech, Intel Corporation, Panasonic India, NIIT, Quickheal, Practo, Hike, Lava International Ltd, Cyient Ltd, IVCA, NPCI, NASSCOM, IAMAI .
The industry leaders welcomed the present initiative of the government and asserted that an effective partnership between government and the private sector is the key for creating $1TrillionDigital Economy in India. Better dispute resolution mechanisms for PPP projects, promoting emerging technologies like cloud, big data, GIS, AI etc through industry collaboration, strengthening the legal framework for data security were some of the key areas where government need to take reform measures for implementing the roadmap.
The key discussion areas included how to increase the impact of digital transactions and services on various sectors such as health, education and financial inclusion and accelerating employment opportunities.
Innovations to fast track digitization, developing solutions for India and emerging market by exploring public private partnerships are also the key areas of discussion.
The Ministry has identified Digital Payments, Make In India, Start-Up India, Skill India, 100 Smart Cities, 50 Metro Projects and Swachh Bharat to be the key drivers of the Digital Economy.
MeitY also earmarked the following emerging technology areas: Data Center/ Cloud, Shared Economy, Space technologies/ GIS, Robotics/ Machine Learning/ Industry 4.0, Augmented Reality/ Immersive Technologies, 3-D Printing among others.