Minister Rajeev Chandrasekhar has said the government is prioritising the need for skilled talent by stepping up reskilling efforts, through the National Institute of Electronics & Information Technology (File Image)
Minister of State for Electronics and Information Technology, Skil Development and Entrepreneurship Rajeev Chandrasekhar on October 6 said the government is working on a policy roadmap to build and design electronic systems and semiconductors in India
Speaking at the India Ideas Summit, organised by United States India Business Council, Chandrasekhar said the new policy and roadmap will be announced this month.
He added that through its new policy the government aims to make India a significant manufacturing player in the semiconductor space in the next 2-3 years.
Chandrasekhar said that through the government's new policy and roadmap, India will not only become self-reliant but will also look to export semiconductors.
India has been facing a major semi-conductor shortage since the outbreak of the COVID-19 pandemic due to global supply chain disruptions, which has forced Indian automobile companies and electronic manufacturers to cut production.
The government has accelerated efforts to start chip manufacturing in the country and is reportedly in talks with Taiwan to bring a $7.5 billion fab unit to India soon.
The minister added that the post-Covid world presents a 'Y2K-like' moment for the Indian information technology industry, and that companies need to play a bigger role in tackling skilling-related challenges to ensure that this huge opportunity can be seized.
"The world has dramatically changed the rapid pace of digitisation has just gone through the roof, and therefore the demand for digitisation and talent is also going to commensurately go sky high...we must recognise that we are in the post COVID world, in almost a Y2K-like moment for the Indian tech space," Chandrasekhar said.
He added that by 2024 he expects the entire Indian population to start using the internet as a tool and also use digital payments on an everyday basis.
"Currently nearly 800 million Indians use digital payment platforms and the internet on a daily basis, I expect by 2024 the remaining 400 million-odd will also start using the internet, creating an even larger online market in India," Chandrasekhar said.
He said that Indian IT companies should take advantage of this opportunity and should work towards attracting more investment in the sector.
Chandrasekhar added that in the next 3 years India should become one of the biggest IT destinations for enterprises globally with its pricing competitiveness and quality talent.