India can create $1 trillion of economic value using digital technology by 2020: Amitabh Kant

  • The digital is the future, Amitabh Kant said adding that if India wants to improve the social sector or health sector then going digital is critical

PTI
Updated26 Nov 2020, 09:19 PM IST
Niti Aayog CEO Amitabh Kant.
Niti Aayog CEO Amitabh Kant.(Mint)

Niti Aayog CEO Amitabh Kant on Thursday said digital infrastructure has become indispensable to the functioning of society and India can create USD 1 trillion of economic value using digital technology by 2025.

Addressing a virtual event organised by industry body FICCI, Kant said the COVID-19 pandemic has provided an impetus to the ever-expanding digital infrastructure.

"Digital infrastructure has become indispensable to the functioning of society... India can create USD 1 trillion of economic value using digital technology by 2025," he said.

He added that digital infrastructure has emerged as more significant infrastructure as compared to traditional infrastructure necessities such as power and road. It is crucial for India to augment digital infrastructure to utilise frontier technology in economic development, Kant said.

The digital is the future, Kant said adding that if India wants to improve the social sector or health sector then going digital is critical.

The Niti Aayog CEO pointed out that the global electronics market is estimated to be worth USD 2 trillion, and India's share in global electronics market has grown from 1.3 per cent in 2012 to 3 per cent in 2018.

"It is still considered to be miniscule. So, the government came up with the production-linked incentive (PLI) scheme for the electronics industry," he said.

Kant also said it is critical for the industry to utilise those schemes and contribute to the overall ecosystem.

Stating that India has been rising in the Global Innovation Index (GII), he said there is an immediate need to develop a local supply chain.

Catch all theBudget News,Business News, Politics news,Breaking NewsEvents andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates.

MoreLess
First Published:26 Nov 2020, 09:19 PM IST
HomePoliticsPolicyIndia can create $1 trillion of economic value using digital technology by 2020: Amitabh Kant

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Bharat Electronics

    301.50
    03:56 PM | 23 JUL 2024
    -11.1 (-3.55%)

    Tata Steel

    160.05
    03:58 PM | 23 JUL 2024
    -0.3 (-0.19%)

    Tata Power

    416.35
    03:58 PM | 23 JUL 2024
    -7.9 (-1.86%)

    NTPC

    382.35
    03:58 PM | 23 JUL 2024
    8.8 (2.36%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Network 18 Media & Investments

    85.30
    03:59 PM | 23 JUL 2024
    7.2 (9.22%)

    Asahi India Glass

    699.50
    03:29 PM | 23 JUL 2024
    55.15 (8.56%)

    CE Info Systems

    2,455.50
    03:59 PM | 23 JUL 2024
    193.45 (8.55%)

    Borosil Renewables

    518.25
    03:49 PM | 23 JUL 2024
    39.35 (8.22%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      75,195.00-315.00
      Chennai
      75,122.00-535.00
      Delhi
      75,048.00-169.00
      Kolkata
      75,561.00417.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.75/L-0.23
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00
      OPEN IN APP
      HomeMarketsPremiumInstant LoanBudget