Every country wants to invest in India for Startups capabilities, says Goyal
India’s IT industry would eventually overtake merchandise export by 2030 with the achievement of US$1 trillion worth of merchandise and services export, which will be a manifestation of India’s strength in the digital arena, Commerce and Industry Minister Piyush Goyal said on 22 Feb 2023.
Pointing out that the Indian services export, largely driven by IT, had grown by 20% between 2021 and 22, he underlined, “India had come of age in the digital arena.”
Goyal said that this growth in exports, when juxtaposed with startup India and digital India would provide a complete picture of India’s true potential for growth in the digital sector.
“Every country today wants to invest in India because of the capabilities of our Startups,” he said.
He noted that the early launch of the Digital India Mission in 2015 had paved the way for the rapid technological change that is being witnessed today in India.
He said that the desire to achieve extraordinary results has been driving India’s digital future.
Technology would be the differentiating factor that would transform India into a developed nation, Goyal stressed in his address to the valedictory session of the India Digital Summit in New Delhi.
The Minister attributed the IT industry’s success to low government interference which has been playing a role of an enabler and hand-holding the industry.
The biggest strength of Indian Startups is the perpetual desire to achieve more and the sheer enthusiasm, he said.
The Minister underscored, “Today, India is relatively in a better position in terms of internet connectivity as compared to many of the developed nations.
The Government had succeeded in bringing about the rapid spread of broadband, optical fibre and 4G services to the remotest part of the country.
The 5G, which was rolled out last October, was expected to cover over 100 cities by the end of the year.
Goyal noted that the Indian Startup ecosystem had been addressing the challenges of human existence, making life easier for the common man.
The Government’s role has been in building the credibility and trust in India.
The Minister said that the delta of growth that India offers the future is more than any other country in the world.
“Given our strong foundational policy framework we’ve had in the last few years, that we are considered a trusted partner globally. The fact that we have a decisive leadership, we have an outstanding talent pool, a huge diaspora, India has a huge opportunity to excel,” he underlined.
Goyal pointed out the way India worked and thought had changed. He said that quality consciousness is today an important factor which is in itself a huge mindset change.
“If quality becomes the mantra of this nation, coupled with sustainability, we can completely transform our country.
“Zero effect & Zero defect’ should be the calling card for industry today. I find the country is willing to accept quality. Our government has laid down strict quality parameters across various industries,” he said.
Today, 1.4 billion Indians are connected with the internet. Initiatives like Digital India, UPI, ONDC & Startup India are creating the perfect foundation for the developed India 2047, he said.
Goyal has also urged the Indian industry to take advantage of significant changes that are happening in the fields of technology, supply chain and energy. fiinews.com
