‘Achieving $1 trillion digital economy is not a tall claim. Why wait for 7 years? Can we do it in 3-4 yrs?’ Prasad
The Dollar Business Bureau
The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi.
Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim".
"I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 years. Can we do it in 3-4 years?" the law and IT minister said in his keynote address to the technology leaders here.
The meeting on building India's digital economy was attended by experts like Nasscom President R Chandrashekhar, Google India's Rajan Anandan, Wipro's Rishad Premji, Indian Cellular Association National President Pankaj Mohindroo, Internet and Mobile Association of India President Subho Ray and Hike Messenger CEO Kavin Bharti Mittal among others.
The Indian IT sector has crossed Rs 10 lakh crore in revenue and exports have crossed Rs 7.5 lakh crore, Prasad said, adding that the country needs to develop its own model for digital development that is inclusive.
"Create a technology which is affordable, create an infrastructure which is developmental, create an environment which is inclusive," he said.
Companies can also make India a hub of low-cost technology for cyber security, he added.
Speaking at the meeting, Minister of State for Law and IT PP Chaudhary said that cyber security is of immense importance and companies should look at storing all data within Indian boundaries in secure manner.