Over the past two years, Mr. Chandrasekhar has maintained a strong focus on driving India's digital agenda and implementing measures to foster electronics and semiconductor manufacturing within the country.
Union Minister Rajeev Chandrasekhar believes that India's achievements in innovation, entrepreneurship, electronics manufacturing, and digital influence are just the beginning of a vast growth opportunity. He asserts that India has the potential to scale up to one lakh unicorns (startups valued at over $1 billion) and potentially 10-20 lakh (1-2 million) startups in the future.
Mr. Chandrasekhar assures that the level of digitalization in government, governance, and the economy will witness even greater acceleration in the future.
Over the past two years, Mr. Chandrasekhar has remained sharply focused on driving India's digital agenda and implementing measures to promote electronics and semiconductor manufacturing within the country.
He has also played a significant role in shaping key legislation, including the ongoing development of the draft Digital India Bill and the approval of the draft Digital Personal Data Protection Bill by the Cabinet, which is expected to be introduced during the upcoming monsoon session of Parliament.
The minister emphasizes that India's advancements in the global tech and digital space are just the initial steps, and there is immense potential for further growth ahead.
In an interview with ICCBizNews, the minister expressed his belief that there is substantial room for growth in India's tech ecosystem. While the current target is set at 100-104 unicorns and 1 lakh startups (100,000 startups), the true opportunity lies in scaling up to one lakh unicorns and potentially 10 to 20 lakh startups (1-2 million startups). He expressed excitement about contributing to this journey and the immense potential it holds for young Indians.
When asked about the timeframe for achieving these targets, the minister acknowledged the challenge of predicting specific timelines due to the dynamic nature of technology and its trajectory.
Based on his observations during visits to universities and colleges, the minister expressed confidence in India's innovation ecosystem. He believes that the current numbers of 104 unicorns and 1 lakh startups (100,000 startups) are just the beginning, representing only the tip of the iceberg. He emphasized the immense potential for entrepreneurship in India, fueled by the country's talent pool and the significant investments made by the Prime Minister in skilling and talent development. The minister confidently stated that the target of achieving 1 lakh unicorns is entirely feasible.
Furthermore, the minister highlighted India's emerging prominence in global value chains for electronics. He emphasized that India is strategically positioning itself to become a significant player in trusted global value chains for electronics and semiconductors in the next decade. This ambitious vision reflects India's determination to establish a strong presence in this sector.
