Cloud technology growing fast, India will soon emerge as biggest market for servers, says Rajeev Chandrasekhar

Given the growth of cloud technology in the country, India is set to become the largest market for servers in the world in the near future, Minister of State for Electronics and IT Rajeev Chandrasekhar said at the inaugural edition of Moneycontrol's India Fintech Conclave on March 7.

Chandrasekhar made the statement while talking about the sunrise sectors in the country, on which the Government is currently focusing, to augment opportunities for manufacturers and attract investments.

"So I see immediately in the short term, with the increased growth of cloud technology in India, we are going to be the largest market for servers in the world," he said.

The Union Minister further said that almost 99 percent of all servers used in the world today are made in China. "All the HPs, the Dells, the Lenovos, and the Apples make their machines in China." Similarly, for the wearables and hearables market (like BOAT), India can become a big player, he said while speaking about sunrise sectors that have potential for growth in India.

The Rajya Sabha MP from Karnataka said that India is seeking to emerge as a trusted player in the global value chain of electronics and the semiconductor industry.

"China occupies a huge chunk of the global electronics trade. The world wants an alternative and India wants to tap this opportunity to become a trusted player in the GVCS (global value chains) of electronics and semiconductors," he said.

"So we see an opportunity, the opportunity is created by the world's re-architecting, redesigning of the value chains for electronics and semiconductors," he added.

He informed that currently, India's electronics production industry is valued at $75 billion and that the government wants to reach $300 billion by 2025.

Tracing India's progress so far, Chandrasekhar said: "In 2014 we were importing 82 percent of our phones, but now we manufacture 100 percent of our phones. Today, we are exporting export one lakh crores of mobile phones. So that is the progress we have made."