May 21 (Punjab Khabarnama) : Minister of State for Electronics and Information Technology Rajiv Chandrashekhar has said that the country’s digital economy is growing at the rate of 2.8 percent annually and it is expected to reach one trillion dollars by the year 2027-28. Chandrashekhar said at an event that the value of ‘India AI’ mission dedicated to artificial intelligence (AI) will also double from Rs 10,000 crore to Rs 20,000 crore. He said that the government had earlier expected the digital economy to reach $1 trillion by 2026-27 but due to various reasons including the Covid-19 pandemic, this target has been advanced by a year.
Chandrashekhar said, “As per the vision of Prime Minister Narendra Modi, the digital economy is growing at the rate of 2.8 percent. This approach determined in the year 2015 has been effective. We are already the fastest growing digital economy in the world. Our target is to achieve a digital economy of one trillion dollars by 2027-28.” He was speaking in the ‘Special Contact Campaign’ organized at the official residence of Union Minister Hardeep Singh Puri on Monday evening. Around 300 IT, startups and technology giants participated in the event. He said that Prime Minister Modi has approved Rs 1 lakh crore as initial capital.
Its investment will be made in research and development for innovation and ‘India AI’ mission, the total value of which will be Rs 20,000 crore. The Union Cabinet has approved Rs 10,000 crore for the India AI Mission but Chandrashekhar said its total value is around Rs 20,000 crore. He said that the factors related to this cannot be disclosed at the moment. Chandrashekhar said, “We are committed to ensuring that the growth momentum continues. The Indian innovation ecosystem is continuously growing and will become one of the leading innovation ecosystems in the world.”