“Digital Personal Data Protection Bill 2022, Draft National Data Governance Framework Policy, Digital India Act and expansion of the PLI Scheme to the IT Sector to play a pivotal role in achieving the trillion-dollar digital economy ”– Shri Rajeev Chandrasekhar
“The government has adopted a qualitative reset and reimagine approach in digitization, on the back of proactive reform measures such as introduction of Digital Personal Data Protection Bill 2022, launch of Draft National Data Governance Framework Policy, Digital India Act and expansion of the PLI Scheme to the IT Sector for achieving the trillion-dollar digital economy”, said Shri Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology, Government of India, while speaking at the Global Economic Policy Summit 2022 organized by CII today.
The Minister mentioned that India has set a target of reaching US$300 billion worth of electronics production & US$120 billion worth of electronics exports by 2025. He further stated that the Data Protection Bill aims to achieve protection of personal data while imposing reciprocal obligations on the companies to avoid misuse of data. The Minister mentioned that India has tackled the pandemic challenge well and established itself as the fastest growing economy that is attracting high FDI on the back of a strong innovation ecosystem, especially in the technology-oriented sectors.
Shri Chandrasekhar highlighted that technology has not just transformed lives but has also redrawn governance. Elaborating on one of these measures he stated that, “the Digital India Programme was one of the foundational initiatives which helped India move from being a consumer of technology to becoming a producer of technology while garnering support from smaller segments of the society to enhance digitization.” The Minister elaborated that the electronics ecosystem has witnessed a transitional shift in so far as 97% of all mobile phones used today are assembled, made, and tested in India unlike in 2014-15 when 92-94% of all mobile phones that India used were imported. Providing an insight into the future targets, he mentioned that this year India is slated to export about 70,000 crores of electronic devices. Such developments are indicative of India’s seamless integration into the international Global Value Chain.
The Minister further elucidated that the tech-services space is expected to grow owing to dedicated reform measures in crucial sectors such as semiconductors, where cutting-edging technology is being promoted for manufacturing and packaging. The objective is to become champions in design. Shri Chandrashekhar added that the start-ups focussed on consumer technology will also grow owing to the usage of Artificial Intelligence and Blockchain Technology.
He stated that on the legislative front, the Information Technology Act, 2000 is being overhauled to account for the recent developments in the post-Internet era to manage binaries and consumer rights. Shri Chandrashekhar mentioned that technological advancements have also played a key role in enhancing the usage of fintech, and going forward, a roadmap is being adopted for broadening and deepening the electronic system.
Earlier welcoming the Hon’ble Minister, Mr Sanjiv Bajaj, President, CII and Chairman and Managing Director, Bajaj Finserv Limited, commended the government for adopting a multi-pronged approach to strengthen its prowess in the digital landscape. He stated that technology has helped the country to navigate through pandemic times by providing easy access to internet across the country. He stated that India’s booming youth population, who make up the biggest users of data, is expected to help the country take great strides and lead the world in technology in the near future.
08 December 2022
New Delhi