Envisioning India’s trillion-dollar digital economy, with R Chandrasekhar at Microsoft Future Ready

Everyone in the digital ecosystem, from corporates to state governments, is now in a race to digitalise its governance, functions and services. Business models across the world are going through a disruptive transformation.

The world is seeking diversification of its value chains and supply chains, and that is where India finds itself. Rajeev Chandrasekhar, Union Minister of State, Electronics & IT, Skill Development and Entrepreneurship spoke on the opportunities for India post-Covid.

Watch the full conversation here.

“This is the Y2K moment for the Indian digital space. Next two to five years represent a huge opportunity to do a step function jump. The increasing digital adoption during Covid-19 in areas like Healthcare, Fintech, Education and Skilling shortly, indicate that the internet in India is more than just watching Netflix and YouTube, and has now become an economic lifeline.”

The Ministry of Electronics and IT (MeitY) had chalked out a 1,000-day agenda, aiming to make India a $1 trillion digital economy over the next few years.

On shaping a human-powered growth journey, Rajeev Chandrasekhar said the key element in this paradigm shift is that the world’s technology consuming companies are accelerating digitalisation along with sourcing digital products and services from countries and supply chains that they can trust.

“Since 2014, digital transformation has been immensely promoted under various government policies, schemes and portals. Today, after Covid, Indian industries are focussed on the growth velocity to secure every opportunity coming their way to increase digitisation in the country. The electronic industry needs to be more proactive to secure huge opportunities in value and supply chains, migration of electronics, manufacturing,” Rajeev Chandrasekhar told senior journalist and founder of Editorji Technologies, Vikram Chandra, at the Microsoft Future Ready event.

The proliferation of the internet with the launch of the Digital India movement in 2014 and the digital adoption accelerated by Covid-19 in many ways will help India become a trillion-dollar digital economy