At an industry gathering S. Krishnan, the Secretary of India’s Ministry of Electronics and Information Technology (MeitY) discussed the country’s aims regarding job creation and the growth of its digital economy. Krishnan revealed that India’s electronics manufacturing sector, which currently provides jobs for around 2 million people is looking to double this number to 4.5 million showcasing the government’s employment targets.
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Highlighting the opportunities, in the semiconductor industry Krishnan pointed out the expected increase in companies entering this field in the coming years. He emphasized the importance of nurturing this sector over the five to ten years to drive growth and create job prospects. Additionally, Krishnan reaffirmed India’s openness towards the semiconductor industry and its commitment to fostering its development.
Krishnan also stressed on India’s need to establish a digital economy with a target valuation of $2 trillion. He emphasized how emerging technologies play a role in achieving this goal and advocated for involvement in advancing the digital economy over the next 5 to 10 years.
Acknowledging the impact of regulations on shaping technology trends Krishnan highlighted the importance of cooperation, between bodies and industry players. He emphasized the need to find an equilibrium between safeguarding consumer interests and meeting industry needs all while ensuring the protection of user data through scrutiny of regulations.
Krishnan also highlighted efforts to strengthen the Digital India Act, especially focusing on tackling concerns related to governance and cyber defense. He underscored the imperative of formulating effective regulations to navigate challenges arising from diverse forms of control, particularly in the realm of cybersecurity.
In conclusion, Krishnan underscored the critical importance of sustained dialogue and collaboration between regulators and industry participants to navigate the dynamic terrain of technology regulation and propel the growth of India’s digital economy.
