India at a ‘defining moment’: Tech and trade to drive next growth phase, says Jitin Prasada

India is at a “defining moment” in its economic journey, with technology and trade emerging as the twin engines driving the next phase of its growth, said minister of state for electronics and information technology Jitin Prasada. “I have the responsibility of two defining issues that are charting out the course of the Indian trajectory. One is technology and the other is trade,” he said at the ET Now Global Business Summit. “In both sectors of technology and trade, India is making huge, great strides.”

Calling India the “talent capital of the world”, he pointed to the digital public infrastructure built over the past decade. He called the Centre’s JAM trinity—Jan Dhan accounts, Aadhaar and mobile connectivity- —as the backbone of financial inclusion and direct benefit transfers. “When subsidies go directly to bank accounts without leakages, that transforms the way India is moving ahead. It brings in transparency. It brings in the intended beneficiaries getting the benefits,” he said, adding that Aadhaar has drawn global interest for its scale.

Acknowledging the emerging risks from rapid digitisation, particularly cyber threats, Prasada said, “Cyber threats are a challenge and it’s an evolving challenge. It’s boundaryless, it’s faceless.”


However, he gave the assurance that the government is partnering other countries and investing in digital literacy and cyber hygiene to safeguard citizens’ data.

Prasada defended the ban on online gambling platforms as being a “bold decision.” “We haven’t banned games. We banned online gambling, online money games. It has saved the lives of millions and millions of people whose households and monetary conditions were going to waste,” he said. On manufacturing, Prasada underscored the government’s push to reduce import dependence in electronics and critical technologies. Referring to concerns around foreign-made surveillance equipment, he said domestic production would strengthen sovereignty and data security. He also stressed the importance of building a full semiconductor ecosystem in India, from fabrication to packaging and design, recalling supply disruptions during the Covid-19 pandemic. “They have become so critical to our lives,” he said of chips used in phones and automobiles. “We are ensuring the fab manufacturing, packaging, design and the whole ecosystem is evolving.” He characterised ongoing and concluded free trade negotiations with the US, the European Union, Australia, New Zealand, Oman and Mauritius as being “truly phenomenal.” “We have talked to most of the developed world, and we have got access to these developed countries,” he said. “Make in India… but make for the world.” He went on to dismiss the opposition’s criticism over trade deals and pledged that farmers and micro, small and medium enterprises (MSMEs) would be protected.