Digital India, a $1 tn business opportunity: Prasad

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SME Times News Bureau | 31 Mar, 2016
The government's Digital India initiative is a USD 1 trillion business opportunity across IT and IT-enabled services, telecom and electronics manufacturing, Communications Minister Ravi Shankar Prasad said in Mumbai on Wednesday.

"Nearly USD 400 billion will be added from the electronics manufacturing, including mobile phones, solar panels etc., while USD 350 billion opportunity will be presented by the IT and ITeS sector," the minister said at the inauguration of FICCI-Frames 2016 Media & Entertainment Industry Conclave.

"The aspirational urge of Indians is driving the digital world in a phenomenal way. And the government's job is to create an enabling eco-system for its growth," he said.

"If industry needs more policy initiatives, the government is open to it," he added.

Internet penetration has reached 400 million in India, 60 percent of it being mobile internet.

He also said India with one billion mobile phone connections has overtaken the US to become the second largest mobile phone market in the world behind China.