In a dynamic push towards technological advancement and digital manufacturing, India is set to generate an estimated 50 lakh jobs within the next three years, as declared by Rajeev Chandrasekhar, Minister of State for IT & Electronics. India’s overarching objective is to entice industry giants like Apple and Micron by establishing trustworthy partnerships within its rapidly expanding digital economy. The ultimate aim is to reach an impressive $300 billion turnover in the electronics sector by 2025.
Addressing the remarkable potential of India’s tech and digital manufacturing sector, Rajeev Chandrasekhar conveyed that India is emerging as one of the fastest-growing digital economies globally. The nation is proactively encouraging companies to shift their supply chains to India, making it an enticing destination for global businesses.
During his participation in The Times of India Right To Excellence Tech Summit 2023, Chandrasekhar highlighted two significant ‘Made in India’ achievements from the past week. Firstly, ‘Made in India’ units of the iPhone 15 were made available in India from the very first day of their global launch on September 22. Secondly, Micron marked the commencement of construction for its $2.8 billion semiconductor plant in Gujarat, signifying India’s increasing prominence in the tech and manufacturing landscape.
India’s ability to carve out a niche for itself is a compelling reason why renowned companies like Apple are increasingly turning to India as an attractive destination for their operations. Chandrasekhar emphasized this during a fireside chat at the summit.
The enthusiasm for growth in India’s tech sector extended beyond the government’s efforts, with representatives from various corporations sharing their perspectives. Tarun Garg, COO of Hyundai in India, and Jyoti Malhotra, MD of Volvo Cars, underscored the significance of sustainability and connectivity as central themes for new products. Reema Jain, Chief Information and Digital Officer at Hero Moto, explained that companies are actively developing new digital interfaces to enhance consumer engagement.
Rohan Verma, Director & CEO of MapMyIndia, proudly asserted that his company has indigenously developed technology products, including mapping solutions, which are on par with, and sometimes even surpass, those offered by global giants like Google.
Lt. Gen Deependra Singh Hooda (Retd.), former General Officer Commanding-in-Chief, Indian Army’s Northern Command, emphasized the importance of adopting an offensive stance to deter cyberattacks, stating that solely defensive measures are insufficient due to the high stakes involved.
Lt. Gen S P Kochhar, Director General of the telecom body COAI, stressed the necessity of high-quality networks to fully harness the potential of 5G, suggesting that collaboration and cost-sharing among stakeholders are imperative.
Muralikrishnan B, President of Xiaomi India, noted that 4G devices have significantly bridged the digital divide in India, and the current focus is on launching 5G smartphones.
Paavan Nanda, CEO of Winzo Games, highlighted India’s competitive advantage in the tech sector and emphasized the need to attract talent capable of not only competing but also surpassing global counterparts.
Anku Jain, Managing Director of MediaTek in India, projected that 5G technology will catalyze future industries with extensive connectivity and cloud interfaces.
Amit Sanyal, Chief Operating Officer of Customer Value Solutions at Comviva, contended that 5G technology will facilitate personalized experiences at a large scale.
India’s vision for a $300 billion turnover in the electronics sector by 2025 reflects its commitment to technological progress and economic growth. With its burgeoning digital economy and an array of incentives to attract global players, India is poised to become a prominent hub for technology and digital manufacturing, creating substantial job opportunities and contributing to the nation’s sustainable development.
