In a bid to boost Indian electronics and software manufacturing industry, the government will come out with a new policy for electronics and software production, as well as for data protection and will set up innovative zones for start-ups. The Minister of Electronics and Information Technology Ravi Shankar Prasad exuded his confidence that India is well-positioned to become a $1 trillion digital economy in next few years.
The minister said that they will be shortly laying down the new electronics policy because between the old policy and now, India has changed completely. He noted that the new policy will look at growth areas in electronics manufacturing segment. Adding further, he said that there is need to look at inward software market and therefore, they will come with a new software product policy. He added that they are going to have framework for data security and protection policy.
Noting that India ranks third among global startup ecosystems, the Minister said that the country needed to have start-up clusters for facilitations. To help create Special Innovative Zones, he further said that they are working on a framework for a Start-ups Cluster Policy in coordination with Nasscom and the Data Security Council of India. Highlighting the potential of the new economy with avenues like digital payments and e-commerce, Prasad pointed out that the focus needs to be on creating technology that is affordable, developmental and inclusive.