Union minister Rajeev Chandrasekhar predicted a significant rise in India’s digital economy at the ‘Startup Conclave 2023’ organized by the Gujarat government. He stated that the digital economy would contribute to a staggering 20% of India’s Gross Domestic Product (GDP) by 2026.
Addressing the gathering, Chandrasekhar, Union Minister of State for Electronics and Information Technology, Skill Development, and Entrepreneurship, highlighted the remarkable growth of the digital economy in India. He emphasized how it has transformed from a mere 4.5% of GDP in 2014 to 11% today.
“This remarkable transformation is a direct result of the ambitious ‘Digital India’ program launched by Prime Minister Narendra Modi in 2015,” he said. “India’s position has shifted from being a passive technology consumer for decades to becoming a leading producer of devices, products, and platforms for the global market.”
Chandrasekhar further lauded the diversification of the Indian economy, which was once dominated by a few key sectors. He emphasized the role of startups and innovation in driving this growth, stating, “This is the most exciting time for the innovation and technology sector in India ever.”
He encouraged aspiring entrepreneurs by saying, “The best time for startups and innovation is yet to come. The next decade will be a decade of immense opportunities.”
The Startup Conclave 2023 aims to foster collaboration and creativity within the startup ecosystem by bringing together innovators and investors. With various sessions, master classes, and networking opportunities, the event promises to propel India’s digital future forward.
