On February 24, India’s Defence Minister Rajnath Singh delivered a significant address at the Indian Institute of Technology (IIT) Mandi, highlighting the rapid growth and potential of the country’s technology sector.

Singh projected that India’s tech industry is on course to reach a valuation of $350 billion by 2030, driven by innovation, digital transformation, and government initiatives fostering technological advancements.

India’s rising technological landscape

India has emerged as a global powerhouse in technology, fueled by a strong ecosystem of startups, increased foreign investments, and supportive government policies.

The country’s digital economy has witnessed exponential growth over the past decade, bolstered by key developments in artificial intelligence (AI), semiconductor manufacturing, cybersecurity, and 5G telecommunications.

Singh emphasised that India’s technology sector plays a crucial role not just in economic expansion but also in national security.

He noted that cutting-edge technological advancements are imperative for strengthening India’s defence capabilities and ensuring the nation remains competitive on the global stage.

One of the primary factors contributing to India’s tech boom is the government’s proactive approach toward digitalisation and innovation.

Various flagship programmes, such as ‘Digital India,’ ‘Make in India,’ and ‘Startup India,’ have provided crucial support for tech-driven enterprises.

The government has also increased funding for research and development (R&D) initiatives, fostering a culture of innovation and entrepreneurship.

Additionally, India’s push towards self-reliance (Atmanirbhar Bharat) has encouraged the domestic manufacturing of high-tech products, including semiconductors, drones, and defence equipment.

Rajnath Singh emphasised the importance of public-private partnerships in this domain, citing collaborations between IITs and industry leaders as instrumental in driving forward technological advancements.

Role of AI

Artificial Intelligence (AI) and machine learning have become fundamental to India’s growth strategy.

The country has seen a surge in AI-driven applications across various industries, from healthcare and agriculture to fintech and defence. With the increased adoption of automation and data analytics, businesses are enhancing efficiency and productivity, further propelling the tech sector’s valuation.

Quantum computing, blockchain, and cybersecurity are also gaining traction in India. Singh highlighted that investments in these fields will be essential in ensuring data security and positioning India as a leader in future-ready technologies.

Startup ecosystem and foreign investments

India’s startup ecosystem has been a driving force behind the nation’s tech sector expansion.

With over 100 unicorns and a strong pipeline of innovative companies, the country is attracting significant venture capital and foreign direct investment (FDI).

Global tech giants such as Google, Microsoft, and Apple have expanded their operations in India, underscoring the nation’s growing prominence in the tech industry.

Singh pointed out that India’s young and dynamic workforce is a key advantage, with millions of skilled engineers, programmers, and researchers contributing to groundbreaking innovations.

The government has also facilitated ease of doing business by streamlining regulations and providing tax incentives for tech startups.

Cybersecurity and defence tech advancements

Given his role as the Defence Minister, Singh emphasised the importance of cybersecurity in India’s tech expansion.

As cyber threats become more sophisticated, investing in robust cybersecurity infrastructure is imperative for national security and economic stability.

He highlighted recent developments in indigenous defence technologies, such as advanced surveillance systems, unmanned aerial vehicles (UAVs), and secure communication networks.

The minister also underscored India’s increasing focus on space technology, with ISRO (Indian Space Research Organisation) spearheading ambitious satellite and exploration missions.

Space-tech startups are receiving greater government support, reinforcing India’s position in the global space race.

Despite the optimistic outlook, Singh acknowledged that challenges remain in achieving the $350 billion valuation target. Infrastructure constraints, digital literacy gaps, and regulatory hurdles need to be addressed to sustain long-term growth. He called for greater industry-academia collaboration to bridge skill gaps and ensure a workforce ready for emerging technological demands.

Moreover, while India is making strides in semiconductor manufacturing, reducing dependence on global supply chains remains a priority.

Strengthening indigenous production capabilities will be critical in ensuring resilience in the face of global uncertainties.

India’s technology sector is at a pivotal juncture, with immense growth potential backed by government initiatives, private sector investments, and a thriving start-up ecosystem.

Indian defence minister Rajnath Singh’s projection of a $350 billion valuation by 2030 underscores the transformative impact of digitalisation and innovation.

As India continues to lead in emerging technologies and defence advancements, the country is poised to become a dominant player in the global tech landscape. (News Bomb)

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India’s electronics sector has emerged as a crucial driver of the country’s integration into global value chains (GVCs) in the recent years. The expansion of this sector is reflective of India’s strategic efforts to deepen its involvement in the global economic framework.

Historically, the foundation of economic expansion and world domination has been manufacturing. With China leading the way with 28.4% of global manufacturing output, followed by the USA, Japan, Germany, and India, the global manufacturing value addition reached more than USD 16 trillion in 2022.

This outstanding result demonstrates how crucial manufacturing is to boosting global economic activity and job creation. Strong manufacturing sectors in a nation tend to generate large amounts of employment and encourage expansion in allied sectors, which supports a broader economic ecosystem.

India is a manufacturing powerhouse in a number of areas, with electronics developing as a key industry. With a current valuation of USD 155 billion, the Indian electronics industry has grown impressively.

Between 2017 and 2022, domestic production doubled, indicating a 13% compound annual growth rate (CAGR). Technological developments, rising domestic demand, and pro-growth government policies are the main drivers of this expansion. The sector’s growth is a reflection of India’s deliberate turn towards becoming a global manufacturing hub.

To support the electronics industry, the Indian government has launched a number of programs, such as Make in India, Digital India, the Production Linked Incentive (PLI) scheme, and the Phased Manufacturing Program (PMP). These initiatives seek to increase home production, lessen reliance on imports, and draw in foreign capital.

For example, the Make in India campaign encourages both domestic and foreign businesses to produce their goods in India, with the goal of turning the nation into a global manufacturing hub. In a similar vein, the Digital India initiative encourages improved internet access and digital infrastructure, creating an atmosphere that is favourable for the production of electronics.

Notably, 43% of India’s electronics industry currently consists of mobile phones, highlighting the sector’s explosive growth propelled by these initiatives. Specifically, the PLI plan offers financial incentives to support large-scale electronics manufacturing, increasing export capacity and production. The government’s deliberate efforts to establish India as a major player in the global electronics arena are evident in these programs, which have played a crucial role in propelling the electronics sector’s expansion.

Global Value Chains (GVCs) have revolutionized manufacturing by dividing production processes across countries, optimizing cost efficiencies, and leveraging specialization.

This shift is best seen in the electronics industry, where nations such as China, Taiwan, the USA, South Korea, Vietnam, Japan, Mexico, and Malaysia dominate different manufacturing stages and have a strong hold over the supply chain. These nations have created complex ecosystems for the electronics industry that enable them to control various parts of the value chain, from the production of components and raw materials to final assembly and distribution.

India’s participation in global electronics GVCs is expanding with enhanced integration with GVCs. The industry’s strong export recordadded $23.5 billion to India’s overall product exports in FY23, highlights its potential to take the lead in the international market. India’s electronics product exports increased from USD 5.7 billion in 2016-17 to USD 28.2 billion in 2023-24. India is now concentrating on developing its capabilities along the whole value chain, from R&D to final manufacturing and export, in order to increase its integration with GVCs.

This significant rise in exports is a testament to India’s growing prowess in the electronics sector, which has now reached among the top 3 globally during the 1st quarter 2024-25.

 India’s Prime Minister, Shri Narendra Modi ji, recently expressed immense joy over this achievement, crediting the success to the innovative spirit of India’s youth, or “Yuva Shakti”. He emphasized that India remains committed to maintaining this momentum, driven by ongoing reforms and initiatives like Make in India.

Moreover, Union Minister for Electronics & Information Technology, Shri Ashwini Vaishnaw, recently highlighted in a social media post that Bharat’s electronics exports have now surged past gems and jewellery, securing the third spot among India’s top 10 exports by the end of Q1 of FY25. This milestone, driven largely by the surge in Apple iPhone exports from India, underscores the sector’s strategic importance and the impact of targeted government policies

India is now concentrating on strengthening its design capabilities and localising more high-tech components in order to become more self-sufficient and globally competitive. To stimulate additional growth and lessen reliance on imports, government support R&D investments, partnerships with leading global technology companies, and supporting legislation.

 The Electronics Development Fund (EDF), PLI programs, and Semicon India Program are addressing the electronics manufacturing ecosystem as a whole. These initiatives encourage the manufacturing of goods in a number of markets, such as cellular phones, consumer electronics, telecom, IT hardware, and automotive electronics.

One of the critical areas for strategic investment is the development of a skilled workforce. India has rightly focused on enhancing the University and Induatryn linkages as partnerships between academic institutions and industry will ensure that the curriculum remains relevant and up-to-date with the latest technological advancements.

With programs like the National Logistics Policy, which attempts to lower logistics costs and increase the effectiveness of supply chains nationwide, the Indian government has already started moving in this direction for enhancing infrastructure to sustain the manufacturing sector. In the electronics industry, research and development (R&D) spending is essential to foster innovation and maintaining competitiveness. The government is rightly focused for the cutting-edge research and development to supportan environment that is created via cooperation between the government, business, and academic institutions.

The National Infrastructure Pipeline (NIP) aims to invest over $1.4 trillion in infrastructure projects across the country by 2025. This includes investments in transportation, energy, and digital infrastructure, which are vital for the electronics sector. Improved infrastructure will reduce production costs, enhance efficiency, and make Indian electronics manufacturers more competitive in global markets.

India stands at a strong foot in its journey to becoming a global leader in electronics manufacturing. The sector’s growth, bolstered by supportive government initiatives and increasing domestic consumption, demonstrates its potential to play a pivotal role in the global value chains. The collaborative efforts of the government, industry, and academia will propel India towards a future of increased self-reliance, global competitiveness, and economic prosperity. This trajectory not only promises significant job creation and economic benefits but also positions India as a key player in the global electronics landscape. (Times of Oman)

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Cabinet approval has been granted to provide the necessary equipment for the introduction of Digital Technology for Piriven Education in Sri Lanka.  

The Ministries of Technology and Education have jointly planned to implement a program to empower private education by introducing digital technology. 

According to the government, this will enable Piriven teachers and clergy/lay students to use digital technology to explore and analyze Sri Lankan national Buddhist heritage. 

Therefore, the Cabinet has approved the joint proposal presented by the President, in his capacity as Minister of Technology, and the Minister of Education to implement the proposed program to provide at least two computers, a smart board and a printer per each Pirivena. (Newswire)

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The Artificial Intelligence Task Force in Sri Lanka has crafted a ‘white paper’ for public consultation to guide the development of a comprehensive strategy for AI integration in Sri Lanka, the Ministry of Technology said.

In a statement, the ministry said that this strategy aims to leverage AI technologies to drive innovation, economic growth and societal progress across the nation.

Recognizing the importance of inclusivity, the task force is committed to soliciting public suggestions and observations to ensure that the strategy reflects the diverse needs and aspirations of Sri Lankans. To achieve this, the task force will conduct meetings, utilize online platforms and engage in targeted outreach efforts to reach citizens from all walks of life.

By actively involving the public in the formulation of the AI strategy, the task force aims to promote transparency, awareness and understanding of AI technologies among the populace. Furthermore, public input will enrich the strategy with diverse perspectives, unlocking innovative solutions and mitigating potential risks. 

Through collaborative efforts with stakeholders from government, academia, industry, civil society and the general public, the task force aspires to develop an AI strategy that upholds ethical standards, promotes social equity and enhances the quality of life for all Sri Lankans. 

“Together, let us build a future where AI serves as a catalyst for inclusive development and prosperity in Sri Lanka. As we embark on this transformative journey towards an AI-powered future, we invite every citizen to join us in shaping the destiny of our nation,” the ministry said. 

The public has been urged to provide their ideas, insights and perspectives via dir_it@mot.gov.lk, which is accessible until April 26, 2024.

Read more :  https://mot.gov.lk/assets/files/AI%20White%20Paper%20March%202024-c09aa49f7990358ad1442103b804511d.pdf  (Newswire)

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President Ranil Wickremesinghe has outlined plans for modernizing the Agriculture Ministry. 

Addressing the 117th Anniversary of the Institution of Engineers, he expressed his intention to seek external assistance to design a new Agricultural Ministry by studying how similar ministries function in countries like Thailand and Malaysia. 

According to the President’s Media Division (PMD), he also emphasized the need for a well-defined ministerial structure for progress.

The President also discussed the next stage of modernizing agriculture, including the utilization of previously unused land, particularly in the Mahaweli area and plantations, covering approximately 700,000 to a million acres. 

Additionally, he pointed out the importance of incorporating various Agriculture Research Institutes into a single institution called the University for Agricultural Technology and engaging the private sector. This holistic approach aims to modernize agriculture, with a focus not only on education in agriculture but also on engineering.

Additionally, the President made a significant announcement about the amalgamation of the plantation industries and agriculture sectors, which were separated since 1970. He discussed the historical context of this separation and the need to modernize the agricultural sector.

President Wickremesinghe encouraged collaboration and input from the Institution of Engineers and left the door open for ongoing consultation as these plans develop and progress.

He also highlighted the pivotal role of engineering in Sri Lanka’s future development and emphasized the significant contributions of engineers to the nation, both historically and in the present, mentioning milestones such as the construction of the Kandy road and the Mahaweli program, which was completed in a remarkably short time frame.

President Wickremesinghe underscored the need for a forward-looking approach, especially in the context of debt restructuring and the pursuit of a new, sustainable economy. He identified three key areas where engineers would play a crucial role: competitiveness, digital transformation and the green economy.

Regarding competitiveness, he stressed that engineering skills are essential for Sri Lanka to become highly competitive in various fields. He highlighted the importance of engineers in building the digital economy, predicting a gradual transformation over the next decade. 

Furthermore, the President discussed the potential for green hydrogen exports, which could be a unique opportunity for Sri Lanka, further emphasizing the role of engineers in this endeavour.

The President acknowledged the need for engineering technology in all these areas, noting that without it, progress would be challenging. He encouraged the growth of engineering talent to meet these future demands, suggesting that the country should double its estimates to account for engineers going abroad.

President Wickremesinghe also emphasized the importance of technical education and vocational engineering skills in addressing the shortage of human resources needed for these technological advancements. He indicated that the government would propose innovative solutions in this regard during the budget report.

In conclusion, President Wickremesinghe called on the Institution of Engineers to actively participate in these initiatives to propel Sri Lanka towards a new economy, marked by technological innovation and agricultural modernization. (NewsWire)

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