NEW DELHI: India’s growing technology industry has proven to be crisis resilient and a driver of country’s exports. According to the Minister of State for Ministry of Electronics and Information Technology (MeiTY), Rajeev Chandrasekhar, the target should be to have 500-600 technology companies with annual turnover of Rs 5,000 crore.
“We currently have 25 companies with a revenue of Rs 5000 crore and more in the next 3-5 yaers. But I say with full confidence, that the ambition should be to have 500-600 tech firms with Rs 5000 crore. I have done my maths and this is not an exaggeration,” the union minister said.
The MoS was speaking during a plenary session during the annual Confederation of Indian Industries (CII) conference on Thursday. He noted that the world woke up to the strengths of Indian tech industry during a situation like the Covid pandemic, however not much importance was paid to trust and competitiveness.
“A situation like the current presents an opportunity like no other for India’s tech industry to scale and prove itself. Our prime minister has emphasised the need to target $400 billion exports this year and increasing exports to GDP ratio,” Chandrasekhar said.
Amongst the focus areas, the minister said that spearheading the internet connectivity, digital governance, simplification of cyber laws as well as emerging technologies.