Digital economy: Ravi Shankar Prasad to meet IT chiefs on Dec 14

Electronics and Information Technology Minister Ravi Shankar Prasad will meet top IT players on December 14 to take stock of the development regarding creation of $1 trillion digital economy by 2022.

In June, the minister met top executives from companies such as IBM, Wipro, Google, Microsoft, Tech Mahindra, Intel Corporation, Panasonic India, NIIT, Quickheal, Practo, Hike, Lava International, Cyient, and associations Nasscom and IAMAI.

Initiatives such as framing a new electronics policy, software product policy, start-up cluster scheme and data protection security policy were also announced as part of the government’s efforts to boost digital penetration and uptake in the country.

The ministry has identified digital payments, Make in India, Start-Up India, Skill India, 100 Smart Cities, 50 Metro Projects and Swachh Bharat to be the key drivers of the digital economy.

The government feels that low-cost cyber security products have a high potential in India. Prasad has recently told Business Standard that 5-7 million jobs would be created in 5-7 years in the country in the field of cyber security. 

For the overall digital economy, it was projected that 30 million employment would be generated by 2024-25.  Electronics, telecom and IT/ITeS sector would be the top three contributors with 8.9 million, 8.8 million and 6.5 million of jobs, respectively, followed by e-commerce, cyber security, sharing economy, common service centres and start-ups and IoT. E-commerce is set to grow 19-fold in generating employment, followed by 500 per cent each in start-ups and IoT sector.