New Delhi, NFAPost: Niti Aayog CEO Amitabh Kant was attending a virtual event organised by industry body FICCI. Addressing the attendees he said, digital infrastructure has become indispensable to the functioning of society and India can create $1 trillion of economic value using digital technology by 2025.
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 $1 trillion of economic value using digital technology by 2025,” Amitabh Kant said.
He further 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, he said.
Amitabh Kant further said the digital is the future, 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 $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,” said Amitabh Kant.
He also point out that 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), Amitabh Kant said there is an immediate need to develop a local supply chain.