The Indian information technology (IT) industry should have 500-600 companies having more than ₹5,000 crore turnover in the next three-to-five years from only 25 such companies right now, a senior Minister said on Thursday.
Speaking at the CII annual meeting, Rajeev Chandrashekhar, Minister of State for Electronics and IT, and Skill Development and Entrepreneurship, urged the private sector to drive innovation.
“Digital will play a large role in the Indian economy in the next 25 years…the Prime Minister is invested in the power of technology to transform governance by bridging the gap between government and the citizens and various departments and panchayats, to overcome the limitation of conventional modes of working in silos,” he said.
He elaborated on the role of technology which has disintermediated financial sector in last several years by completely transforming them and the impact of UPI.
Districts which never had contact with the government in months could get direct financial transfer in the accounts during the pandemic. Government has a target of connecting all Indians through Internet by 2025 mostly through broadband of BharatNet, simplifying cyber law for ease of doing business and focussing on high tech such as Quantum Computing and Artificial Intelligence, he added.