Govt Aims For Technology To Contribute 20-25% Of GDP By 2025: MoS Chandrasekhar
In a public meeting on Monday, Rajeev Chandrasekhar, Minister of Information Technology, revealed the Indian government's ambitious plan to make technology a significant component of the nation's GDP. The minister emphasised that technology currently holds substantial presence and momentum among Indian startups, enterprises and innovators.
Highlighting the impressive growth of the "Indian innovation economy", Chandrasekhar noted that it has surged from 4-5 per cent in 2014 to 10 per cent today, particularly during and after the pandemic. Looking forward, he projected that technology would contribute nearly 20 per cent of India's total GDP, amounting to a staggering USD 5 trillion, and is expected to grow at a rate of about 8-7.5 per cent per annum by 2025-2026.
The minister stressed that this target encompasses both the digital economy and overall technology, reinforcing Prime Minister Modi's technology mission. Chandrasekhar underscored the crucial role of artificial intelligence (AI) as a catalyst for the digital economy, citing the remarkable progress made by startups and the innovation ecosystem in the domains of consumer internet and the data economy.
Additionally, he highlighted the government's commitment to funding three centres of excellence in India's AI program. In the latest budget, USD 150 million has been allocated to establish these centres, which will serve as hubs connecting prominent academic institutions, universities, colleges, and industries. The areas of focus for these excellence centres include governance, which aims to enhance decision-making processes through intelligent and granular systems, ranging from scheme design to implementation.
The minister also emphasised healthcare and language as key domains for the advancement of artificial intelligence.
