Digitial India is $ 1 trillion business proposition – Ravi Shankar Prasad
Photo caption : Union Minister for Communication & IT, Mr. Ravi Shankar Prasad, Mukesh Ambani, Chairman, Reliance Industries, Mr. Uday Shankar, CEO, STAR India, veteran Film maker Ramesh Sippy, Mr J B Perette, President, Discovery Nework and others at the inauguration of FICCI Frames 2016 in Mumbai on March 30, 2016.
Union Minister for Communication & IT, Mr. Ravi Shankar Prasad today said that Digital India initiative of the Government is a $ 1 trillion business opportunity across IT and IT enabled services, telecom and electronics manufacturing.
Speaking at the inauguration of FICCI Frames 2016 Media & Entertainment Industry Conclave in Mumbai, Mr. Prasad said Digital India is one of the signature campaigns of Prime Minister Narendra Modi to empower the citizens of India digitally.
KPMG Report on Media & Entertainment Industry 2016 was released on the occasion.
He said that nearly $400 billion will be added from the electronics manufacturing including mobile phones, solar panels etc, while $ 350 billion opportunity will be presented by the IT and ITES sector. Communication services will provide business opportunity of $ 250 billion.
The Minister said “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.” Mr. Prasad said several of his government initiatives viz Skill India, Stand Up India, Aadhar roll out, Make in India, Smart Cities involve enormous use of digital technology.
“If industry needs more policy initiatives, the government is open to it” the Minister asserted. Mr. Prasad said with 250,000 gram panchayats being connected through Optic Fiber Network, entire country was being brought under the broadband regime.
India is now the second largest mobile phone market
The Minister said the internet penetration had reached 400 million, with 60% of it being mobile internet. He also said that India with 1 billion mobile phone connections has overtaken the USA to become the second largest mobile phone market in the world behind China. He asserted that with successful Aadhar enrolment, government has been able to save Rs 15,000 crore through direct delivery of subsidies.
The Minister cited examples of Mathematics teacher cum App maker from Rajasthan, and a 68 year old Telangana, who became digitally literate in order to communicate with her grandson in Dubai through skype to drive home the importance of digital India and the opportunities it was offering. He said “Indian first watch, adopt, enjoy and become empowered”.
Speaking about the Media & Entertainment Industry, Mr. Ravi Shankar Prasad, who was also the I&B Minister earlier, said Indian content has global reach and we must utilize its strength to depict virtues of our rich cultural heritage. He said with the spread of internet new platforms were emerging which would lead to change in business models. The Minister however asserted that Internet should remain democratic, plural and inclusive. “Internet is the finest creation of human mind, it should not be abused by few” he said.
Television rating system must improve, not impressed with TAM’s alternative.
Mr. Prasad also added that it was imperative for the television rating data to be more fair and reasonable. “I was not impressed by the TAM, and I am not impressed by the alternative too. How can a few thousand boxes determine what India is watching” he said.
Earlier in his address Mukesh Ambani, Chairman, Reliance Industries Ltd the digital world would lead to growth that would be exponential rather than linear and that the domestic media & entertainment sector would touch $100 billion in the next decade from $18 billion now. Mr. Uday Shankar, CEO, STAR India in his opening remarks highlighting the role of technology said “future will depend on engineers,designers& storytellers”.
‘Year of the Digital : Change or Perish’ is the theme of this year’s FICCI Frames, which in its 17th edition has attracted policymakers, industry professionals, experts, filmmakers in large numbers .
PIB Mum | IJhala, AS (MD)