India's digital economy is growing 2.8x of GDP: Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT, Mr. Rajeev Chandrasekhar

Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT, Mr. Rajeev Chandrasekhar announced that India's digital economy is expanding at nearly three times the rate of its overall GDP growth and is projected to account for 20% of the nation's GDP by 2027. Speaking at an event in New Delhi, he highlighted that the digital economy, which constituted 4.5% of GDP in 2014, has grown to 12% today. The minister also emphasized the government's focus on sectors such as electronics, microelectronics, telecommunications, semiconductors, and cybersecurity to achieve a US$ 1 trillion digital economy by 2027-28.

In addition, the government is prioritizing the establishment of significant AI computing infrastructure under the India AI Mission, with plans to support up to 50% of the costs for creating GPU infrastructure. Efforts are also being made to boost semiconductor capabilities domestically, including the Tata Group's partnership with Taiwan's PSMC to build a semiconductor lab in Gujarat and new OSAT facilities in Assam and Gujarat. This strategic push aims to integrate India more deeply into the global semiconductor supply chain.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.