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Digital India Is a $1 Trillion Business Opportunity: Ravi Shankar Prasad

Digital India Is a $1 Trillion Business Opportunity: Ravi Shankar Prasad

By Indo-Asian News Service | Updated: 31 March 2016 11:41 IST

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The government's Digital India initiative is a $1 trillion (roughly Rs. 66,33,544 crores) business opportunity across IT and IT-enabled services, telecom and electronics manufacturing, Communications Minister Ravi Shankar Prasad said in Mumbai on Wednesday.

"Nearly $400 billion (roughly Rs. 26,53,413 crores) will be added from the electronics manufacturing, including mobile phones, solar panels etc., while $350 billion (roughly Rs. 23,21,792 crores) opportunity will be presented by the IT and ITeS sector," the minister said at the inauguration of Ficci-Frames 2016 Media & Entertainment Industry Conclave.

"The aspirational urge of Indians is driving the digital world in a phenomenal way. And the government's job is to create an enabling ecosystem for its growth," he said.

"If industry needs more policy initiatives, the government is open to it," he added.

Internet penetration has reached 400 million in India, 60 percent of it being mobile Internet.

He also said India with one billion mobile phone connections has overtaken the US to become the second largest mobile phone market in the world behind China.

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Further reading: Digital India, Ficci, IT, India, Information Technology, Internet