Updated March 13th, 2024 at 12:14 IST

India evolving from back office to product-making nation: Ashwini Vaishnaw

This inclusive approach to technology has garnered international acclaim, with observers hailing it as a model of digital empowerment, he said.

Reported by: Rajat Mishra
PM Modi ji’s third term, India will emerge as a major manufacturing hub and as a technology nation, Vaishnaw said. | Image:Republic
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India Titular to Technology: India's Prime Minister has spearheaded an approach to technology, one that fosters inclusivity and democratises access to innovation, shifting the nation from being a back office of the world to being a product-making nation, said Ashwini Vaishnaw, the Union Minister of Railways, Communications and Electronics & Information Technology while addressing the Republic Summit 2024: Bharat the Next Decade.

Vaishnaw highlighted that with strategic public-private partnerships and the visionary implementation of the India stack, the country has transformed its technological landscape, ensuring that both large enterprises and small entrepreneurs, the affluent and the marginalised have equal access to life-changing technologies.

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“At the heart of this paradigm shift lies the India stack, a comprehensive framework that integrates various digital services, including the Unified Payments Interface (UPI), digital identity systems, and digital lockers. This stack has facilitated the seamless collaboration between public investment and private enterprises, leading to unprecedented levels of accessibility and affordability in technology services,” said Vaishnaw.

Citing UPI as a game-changer in the financial sector, Vaishnaw said that it has enabled the government to reduce transaction costs and empower millions of individuals and businesses to engage in digital payments. By leveraging digital identities and document verification through platforms like Aadhar and DigiLocker, the stack ensures the security and authenticity of transactions, enabling even micro-entrepreneurs to access credit facilities previously reserved for larger industrialists.

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This inclusive approach to technology has garnered international acclaim, with observers hailing it as a model of digital empowerment.

Semiconductor manufacturing

Vaishnaw also shared that India's focus on securing its technological future is evident in its endeavours in semiconductor manufacturing. The swift agreement with Micron, culminating in the establishment of a semiconductor plant within a mere 100 days, underlines the government's commitment to driving progress and development.

Vaishnaw said, “Prime Minister Modi's visionary leadership, characterised by the Sankalp for Viksit Bharat (Resolve for Development of India), has propelled India into a new era of technological advancement. By prioritising inclusivity and collaboration, India has not only transformed its own digital landscape but has also set a precedent for nations worldwide to emulate.”

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With the recent groundbreaking for a semiconductor plant within 100 days of the agreement, employing close to 5000 workers, India is showcasing unprecedented pace and efficiency in infrastructure development, he added.

According to Vaishnaw, Prime Minister's mandate underlines not just setting up fabs or plants but envisioning the entire semiconductor value chain and charting a 20-year roadmap. Using India's pool of 3 lakh design engineers, the focus extends from silicon ingot production to chip fabrication and assembly. This holistic approach aims to insulate India from supply chain vulnerabilities and foster indigenous chip design and production, shared Vaishnaw.

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As the world navigates an increasingly interconnected and technology-driven future, India stands at the forefront, championing the cause of inclusivity and accessibility in the digital age and Vaishnaw’s strong address reflects a similar sentiment.

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Published March 7th, 2024 at 19:08 IST