Left Menu
Development News Edition

India can create USD 1 trillion of economic value using digital technology by 2025: Kant

Niti Aayog CEO Amitabh Kant on Thursday said digital infrastructure has become indispensable to the functioning of society and India can create USD 1 trillion of economic value using digital technology by 2025. India can create USD 1 trillion of economic value using digital technology by 2025," he said.

PTI | New Delhi | Updated: 26-11-2020 21:03 IST | Created: 26-11-2020 21:03 IST
India can create USD 1 trillion of economic value using digital technology by 2025: Kant

Niti Aayog CEO Amitabh Kant on Thursday said digital infrastructure has become indispensable to the functioning of society and India can create USD 1 trillion of economic value using digital technology by 2025. Addressing a virtual event organised by industry body FICCI, Kant said the COVID-19 pandemic has provided an impetus to the ever-expanding digital infrastructure.

"Digital infrastructure has become indispensable to the functioning of society... India can create USD 1 trillion of economic value using digital technology by 2025," he said. He added that digital infrastructure has emerged as more significant infrastructure as compared to traditional infrastructure necessities such as power and road. It is crucial for India to augment digital infrastructure to utilise frontier technology in economic development, Kant said.

The digital is the future, Kant said adding that if India wants to improve the social sector or health sector then going digital is critical. The Niti Aayog CEO pointed out that the global electronics market is estimated to be worth USD 2 trillion, and India's share in global electronics market has grown from 1.3 per cent in 2012 to 3 per cent in 2018.

"It is still considered to be miniscule. So, the government came up with the production-linked incentive (PLI) scheme for the electronics industry," he said. Kant also said it is critical for the industry to utilise those schemes and contribute to the overall ecosystem.

Stating that India has been rising in the Global Innovation Index (GII), he said there is an immediate need to develop a local supply chain..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....

Videos

Latest News

Biden to name geneticist Eric Lander as director of Office of Science and Technology Policy

U.S. President-elect Joe Biden is set to name geneticist Eric Lander as the director of the Office of Science and Technology Policy, two sources told Reuters.Biden will seek to elevate the post, which will serve as science adviser to presid...

U.N. says U.S. blacklisting of Yemen group may hinder bid to avert oil spill

The United Nations is concerned that a U.S. plan to blacklist Yemens Houthi movement on Tuesday will hinder its efforts to assess a decaying oil tanker that is threatening to spill 1.1 million barrels of crude oil off the war-torn countrys ...

Pence calls Harris to offer assistance ahead of U.S. power transfer next week

Vice President Mike Pence reached out to Vice President-elect Kamala Harris on Thursday, sources familiar with the situation said, marking the first contact at that level between the outgoing and incoming administrations.Pence has increasin...

Biden unveils plan to speed U.S. COVID-19 vaccine rollout

U.S. President-elect Joe Biden on Friday said he would order increased production of syringes and other supplies to ramp up vaccinations against COVID-19 and improve upon the Trump administration rollout that he has called a dismal failure....

Give Feedback