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AI, online gaming can add up to $300 billion to India's GDP by 2026-27: Rajeev Chandrasekhar

Economic Times

Economic Times · 1y ago

AI, online gaming can add up to $300 billion to India's GDP by 2026-27: Rajeev Chandrasekhar

According to Union Minister Rajeev Chandrasekhar, the artificial intelligence (AI) and online gaming sectors have the potential to contribute up to $300 billion to India's GDP by 2026-27. The government plans to host a global summit called 'India AI-2023' on December 10 as part of its efforts to promote AI. Chandrasekhar also mentioned that the government aims to achieve a $1 trillion digital economy as part of the $5 trillion GDP target.

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Digital economy to contribute 20% of India's GDP by 2026: MoS IT Rajeev Chandrasekhar

Economic Times

Economic Times · 1y ago

Digital economy to contribute 20% of India's GDP by 2026: MoS IT Rajeev Chandrasekhar

According to Union Minister Rajeev Chandrasekhar, the digital economy is expected to contribute 20% of India's GDP by 2026. He mentioned that the digital economy has already grown from 4.5% to 11% of the GDP since 2014. India has transformed from being a consumer of technology to a producer of devices, products, and platforms for the world. Chandrasekhar believes that the next decade will be full of opportunities for startups and innovation in India.

India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar

Economic Times

Economic Times · 1y ago

India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar

India's digital economy is projected to reach $1 trillion by 2027-28, growing at a rate of 2.8% annually, according to Minister of State for Electronics and IT, Rajeev Chandrasekhar. The value of the IndiaAI mission will be increased from Rs 10,000 crore to Rs 20,000 crore. The target of reaching the $1 trillion milestone was initially set for 2026-27, but has been pushed back due to various factors including the Covid-19 pandemic. Chandrasekhar emphasized the importance of Prime Minister Narendra Modi's vision in driving India's growth as the fastest-growing digital economy in the world.

India aims to digitise 20% of GDP by 2025-26: Rajeev Chandrasekhar at AI summit

Livemint

Livemint · 1y ago

India aims to digitise 20% of GDP by 2025-26: Rajeev Chandrasekhar at AI summit

India aims to digitize 20% of its GDP by 2025-26, according to Minister of State (MoS) for Electronics and Information Technology Rajeev Chandrasekhar. Speaking at the Global AI Summit in the UK, Chandrasekhar highlighted India's rapid digitization over the past eight years, moving the digital economy from 4.5% to 11% of the GDP. The country has set a target of reaching 20% by 2025-26. Chandrasekhar emphasized the importance of international collaboration in shaping the future of technology, advocating for a coalition of nations to drive innovation and regulations for the benefit of all.

Chandrayaan 3 success is testament of our deep tech capabilities, says MoS IT Rajeev Chandrasekhar

IndianStartupNews

IndianStartupNews · 2y ago

Chandrayaan 3 success is testament of our deep tech capabilities, says MoS IT Rajeev Chandrasekhar

Union Minister Rajeev Chandrasekhar highlighted India's increasing capabilities in deep tech, using Chandrayaan 3 as an example. He expressed confidence that India can achieve PM's vision of a digital economy contributing 20-25% to GDP. Chandrasekhar also mentioned India Stack's role in helping other countries adopt technology. India Stack offers APIs for paperless and cashless service delivery. Countries like Sri Lanka, Morocco, and the Philippines are using India Stack's technologies. India recently achieved a lunar landing on the moon's South Pole, further showcasing its technological prowess.

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

OutlookIndia

OutlookIndia · 1y ago

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

India is set to establish two semiconductor fabrication plants with multi-billion dollar investments, as well as several chip assembly and packaging units. Rajeev Chandrasekhar, Minister of Electronics and IT, confirmed that Tower Semiconductors from Israel has proposed an $8 billion project, while Tata Group has also submitted a project. The government has received four proposals for semiconductor manufacturing plants and 13 for chip assembly and testing units. India aims to become a global leader in electronics manufacturing and hopes to achieve $300 billion of electronics manufacturing by 2026-27.

Sam Altman not the last word on India's AI aspirations: Rajeev Chandrasekhar

Money Control

Money Control · 2y ago

Sam Altman not the last word on India's AI aspirations: Rajeev Chandrasekhar

Rajeev Chandrasekhar, a Member of Parliament, has responded to Sam Altman's remarks on India's AI ambitions. Chandrasekhar disagrees with Altman's belief that India's AI aspirations are overrated and argues that the country has the potential to lead in AI development. He highlights India's talent pool, data availability, and the government's initiatives as factors that can propel India's AI progress.

Centre To Establish A Regulatory Framework To Oversee Online Gaming

Inc42 · 1y ago

Centre To Establish A Regulatory Framework To Oversee Online Gaming

The Indian government is planning to establish a regulatory framework for the online gaming industry. Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, expressed positivity about the sector and mentioned the need for distinguishable regulatory norms. He stated that the regulatory framework would aim to ensure safe and permissible online gaming, separate from betting and money laundering. The government wants the self-regulatory body to be independent from both the government and the industry. This move comes amidst increased scrutiny and challenges faced by the online gaming sector, including tax evasion notices and layoffs. Chandrasekhar also emphasized the importance of startups complying with local laws, regardless of their size or success.

300 innovators including Zomato, Mamaearth founders attend BJP event in Delhi

Money Control

Money Control · 1y ago

300 innovators including Zomato, Mamaearth founders attend BJP event in Delhi

Zomato, Mamaearth, Urban Company and EaseMyTrip founders were among the 300 tech innovators who attended the BJP government's 'Dinner Pe Charcha' event at a ministerial bungalow in Delhi on Monday. At the event, ministers Rajeev Chandrasekhar and Hardeep Singh Puri talked about India's achievements in the past 10 years. YouTuber Gaurav Chaudhary (Technical Guruji) also attended the event.

Gameskraft, Spartan Poker among gaming firms omitted from IAMAI-Chandrasekhar Meet

Inc42 · 1y ago

Gameskraft, Spartan Poker among gaming firms omitted from IAMAI-Chandrasekhar Meet

The Internet and Mobile Association of India (IAMAI) has retracted its invitation to gaming companies Gameskraft and Spartan Poker for a closed-door meeting with Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar. This decision comes after feedback from the minister's office. The meeting, part of the India Gaming Convention, aims to discuss "building certainty for online gaming." Other major gaming companies such as Dream11, Mobile Premier League, Games 24x7, and Zupee are still expected to participate. The gaming industry is currently facing issues with alleged tax evasion and increased GST rates.

RBI action on Paytm Payments Bank: Regulatory compliance cannot be ‘optional’, says Rajeev Chandrasekhar

Livemint

Livemint · 1y ago

RBI action on Paytm Payments Bank: Regulatory compliance cannot be ‘optional’, says Rajeev Chandrasekhar

Union Minister Rajeev Chandrasekhar emphasized that regulatory compliance should not be optional for companies, in reference to the Reserve Bank of India's (RBI) regulatory action on Paytm Payments Bank. He stated that no company can escape the consequences of non-compliance with the law, highlighting the importance of entrepreneurs paying attention to regulatory requirements. Chandrasekhar also clarified that the RBI's action against Paytm Payments Bank has drawn attention to the need for compliance rather than rattling the fintech industry.

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