Tech sector must aim to have 500-600 firms with Rs 5,000-crore revenue in 3-5 years: MoS IT Rajeev Chandrasekhar

The minister stated one of many high priorities of the federal government is to drive the connectivity of the web and canopy all Indians by 2024-2025, a big a part of that might be pushed by the BharatNet mission.

The Indian tech sector ought to intention to have 500-600 corporations with revenues of Rs 5,000 crore or extra within the coming three-five years from the present rely of 25-30 such companies, because the post-Covid world gives alternatives for the Indian companies to develop their appetites and ambitions, Rajeev Chandrasekhar, MoS for electronics & IT, stated on Thursday.

The minister stated belief and competitiveness are the 2 attributes of the tech sector, which have been taken as a right for the final a few years however the identical two attributes have grow to be essential within the post-Covid world as corporations throughout the globe search a brand new technique.

“…so, I believe that’s the set off for the Indian tech sector to instantly develop their ambitions, develop their appetites…we should always have an ambition of taking it from the 25-30 that we now have as we speak, to about 500 to 600 within the subsequent 3-5 years. I’ve carried out the mathematics, I’ve carried out the arithmetic, I’ve regarded on the potential alternatives for progress and I believe that is one thing that we are able to obtain,” Chandrasekhar stated on the CII’s annual assembly.

The minister stated one of many high priorities of the federal government is to drive the connectivity of the web and canopy all Indians by 2024-2025, a big a part of that might be pushed by the BharatNet mission. The minister highlighted the position of expertise, which has remodeled the monetary sector in final a number of years. Districts which have by no means had any contact with the federal government in months might get direct monetary switch within the accounts through the pandemic.

Chandrasekhar additional stated the large digitisation initiatives within the nation over the previous years and the post-Covid world state of affairs have introduced out the largest alternatives like no different time in historical past. “Now we have seen the facility of expertise within the worst time {that a} nation might face, which is the Covid pandemic. To me, evidently the efforts of final seven years and post-Covid world alternative that we now have catapulted to, symbolize the largest alternative like no different time in historical past,” he stated.

He added that the federal government will work in the direction of simplifying cyberlaws for ease of doing enterprise and specializing in excessive tech like quantum computing and synthetic intelligence (AI).