With the aim of creating a road map to take India’s digital economy to the $1-trillion-mark in the next 5 years, the government will hold a high-level brain storming session with technology giants such as Google, IBM, Microsoft, Infosys, TCS, Wipro and Tech Mahindra. Besides, the high-level panel includes eCommerce firms Amazon, Flipkart and Snapdeal, mobile handset makers Panasonic and Lava; cyber security services provider Quickheal.
It is the first major initiative to be launched by the government to expand India’s digital economy, which at present is in the range of $400 billion. The ministry of electronics and IT (MeitY) is organising the high-level round table with the industry leaders for working out a road map for achieving a $1-trillion digital economy in the country, a source said. The meeting is scheduled for Friday (June 16).
The round table, which will be chaired by IT Minister Ravi Shankar Prasad, will also see participation from the National Payments Corporation of India, which are involved in the digital payments sector as well as industry bodies, Nasscom, Indian Private Equity and Venture Capital Association (IVCA) and Internet & Mobile Association of India (IAMAI).
“The meeting will do a SWOT (Strengths, Weaknesses, Opportunities & Threats) analysis of the digital economy. How to give a message to the global investor community on India’s seriousness in the area will also be deliberated upon,” another source said. Another issue that will be discussed at these high level meetings will be on how to create more jobs as well as on introducing more skill building programmes, the source added.
Another source said that the key areas of focus for the government to realise its $1 trillion digital economy dream are health, education, Ecommerce, digital payments, start ups, cyber security and this panel also analyse how these sectors can be leveraged to grow the market.
The government has also roped in management consulting firm McKinsey to prepare a report on the country’s digital economy and its future roadmap.