India's Goal Is To Make Technology 20-25% Of GDP By 2025-26: Rajeev Chandrasekhar Over the last five years, in particular, during and after COVID-19, the Indian innovation economy has grown from 4-5% in 2014 to 10%today
By Teena Jose •
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IT minister Rajeev Chandrasekhar said that the Indian government has set a goal of making technology 20-25% of the nation's GDP by 2025, according to a PTI report.
In his virtual address to the annual conference of the Global Indian Technology Professionals Association, Chandrasekhar said that, "Over the last nine years digital economy has expanded, diversified and currently there isn't a slice or space in the tech sector that Indian entrepreneurs, Indian startups are not present in; whether it is semiconductors, micro-electronics, AI, the blockchain and web three high-performance computing languages and consumer internet."
Furthermore, the minister reportedly added that, "Any part of technology that you look at today, there is significant presence and momentum by Indian startups, Indian enterprises and Indian innovators. Over the last five years, in particular, during and after COVID-19, the Indian innovation economy has grown from 4-5% in 2014 to 10%today."
"Our target is that technology and the digital economy would be 20% of the total GDP, which also is growing at about eight per cent, 7.5% per annum by 2025-2026. So, 20% of our GDP, which will be about $5 trillion amounts to a trillion dollars and that is the goal that we are working on. That is the mission that Prime Minister Modi's government is focused on," the minister revealed.
Describing AI as a kinetic enabler of the digital economy, the minister said it is a very important and valuable layer on the progress that has been made by the startups and innovation ecosystem over the last several years around the consumer internet and the data economy. As per the report, the government has branded the artificial intelligence programmes and schemes in the country as India AI.
According to the minister, the overall India stack is gaining a tremendous amount of recognition from countries around the world, and multilateral agencies around the world.
