India’s digital economy is growing rapidly and is expected to reach $1 trillion by 2027-28. Minister of State for Electronics and IT Rajeev Chandrasekhar shared this information, and also said that the value of the IndiaAI mission is also likely to increase from Rs 10,000 crore to Rs 20,000 crore. Let’s know the story behind this development and the government’s plans.
The growing pace of the digital economy
Rajiv Chandrashekhar claims that the digital economy in India is expanding at a rate of 2.8 percent each year. Earlier it was expected that it would reach the figure of 1 trillion dollars by 2026-27, but in view of challenges like the Kovid-19 pandemic, it has been extended by a year. Chandrashekhar said, “Prime Minister Narendra Modi is paying a lot of attention to digitalization. That is why India is the fastest growing digital economy in the world.”
Announcement made at the event
Rajiv Chandrashekhar said this at an event organized at the official residence of Union Minister Hardeep Singh Puri, in which about 300 IT, startup and technology industry giants participated. On this occasion, he discussed the possibilities of development of India’s digital economy and also talked about the support of the government.
Seed fund to promote AI
Chandrasekhar also said that Prime Minister Modi has approved a seed fund of Rs 1 lakh crore to promote AI. This fund will be helpful in promoting innovation in the digital sector. If someone has developed a new technology, its research and development will be done through the IndiaAI mission. This will accelerate technological development and open up new investment opportunities.
Emphasis on development of young Indians
The Union Minister clarified that the aim of the government is to enable young Indians so that they can compete at the global level. He said that the tech industry wants this pace of development to continue and the government is also working in this direction.
Importance of Digital India Mission
Rajiv Chandrashekhar also informed that Prime Minister Modi had launched the Digital India Mission in 2015. The aim of this mission is to provide internet connection to every Indian and make them digitally empowered. This will not only boost economic growth, but it will also provide opportunities to the developing talents of the country.
The plans outlined for India’s digital economy development and investments in the AI sector are a positive sign. This will not only boost innovation in the digital sector, but will also strengthen the country’s economic position. If these plans succeed, India could take a significant step towards becoming a $1 trillion digital economy by 2028.
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