India’s digital competence will grow in 2023 and over the next five years, driven by technology, start-ups, semiconductors, electronics and computing, said Union Minister of State for IT Rajeev Chandrasekhar. Allaying any concerns over tech winter, the minister predicted spring for the country’s booming innovation ecosystem.
“India as a market for consuming digital products and digital services is one of the biggest markets,” Rajeev Chandrasekhar said, adding that opportunities for digitisation continue to be “very strong”. He exuded confidence that India’s trillion dollar digital economy vision is “well within our grasp” and “an absolutely incontrovertible fact”. The momentum of the digital economy will continue in 2023, backed by enabling rules and laws that offer a catalysing framework for technological growth and innovation, he assured.
Demand for Indian talent, as well as products and technology that are designed in India and Made in India continues to be robust, Rajeev Chandrasekhar pointed out. Innovation and the start-up momentum will continue despite certain corrections now and then. He added that companies cannot relax, but must upskill and brace new business models to be relevant amid market disruptions. Companies that do not innovate fast, or adjust to changes will face challenges “created not by the market, but related to their own preparedness for this digital opportunity,” he cautioned.