What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
Union Minister Envisions AI Gaming as a $200-300 Billion Boost to India’s Economy
NEW DELHI: The excitement for groundbreaking progress in the technology industry reached its peak at the commencement of the 6th Annual Technology Conference, “INFINITY 2023,” held in the nation’s capital on Thursday.
The event at Amity Business School commenced with Union Minister of State for Electronics and Information Technology Rajeev Chandrashekhar, featuring the theme “Emerging Technology Leading Growth and Sustainability in the Era of Digital Transformation for Businesses.”
In an exclusive interview with The New Indian, Chandrashekher, expressed his hopes that AI gaming could contribute a substantial $200-300 billion to our economy.
READ MORE: Congress’ caste census push puts its Kerala unit in a bind
Here are some excerpts from the interview:
How can emerging technologies in the digital landscape contribute to India’s economic growth and sustainability?
“That’s an excellent question, and we believe that emerging technologies, such as Artificial Intelligence (AI), can play a pivotal role in fostering the digital economy. In the case of AI alone, it has the potential to significantly boost the digital economy. For instance, the online gaming sector is another segment that could contribute almost 200 to 300 billion dollars to the digital economy component of the GDP.
“Our goal is to make the digital economy a substantial part of India’s five trillion dollars GDP by 2027, targeting 20 percent of the total GDP. We firmly believe that AI will be a crucial component of achieving this goal, which is why the Prime Minister has launched the India AI program. On the tenth of December, we will host the first Global Summit for India AI, titled “India 2023.”
The New Indian also interacted with Lava International President Rishi Mohan Bhatnagar, who shared the challenges and opportunities in the global market for tech manufacturers.
So, Lava International Limited is a prominent name in the Indian smartphone market. How are you embracing emerging digital technologies through your products and services?
“We operate in a highly competitive market, currently holding 27 percent of India’s feature phone market. We have been growing in this segment, and what sets us apart is our commitment to designing 100 percent of these mobile phones in India. Every feature phone that Lava offers in India is designed and made in India. As for smartphones, the first India-designed smartphone will be available in the first quarter of next year.
“We are moving away from importing designs and focusing on bringing the design process under our control. This allows us to offer more innovative and cost-effective solutions. Our investment in design capabilities is a testament to this commitment.
“We have mentioned in the press that we aim to make India 5G-ready with our mobile phones. In a price-sensitive market like India, we are working to provide the best performance at a price point that makes it accessible to a wide range of consumers. Our primary goal is to ensure that we have complete control over the design and manufacturing process. Thank you.”
What are the key challenges and opportunities for Indian manufacturers in the global market?
“When it comes to electronics, the majority of components and products are currently imported. We need to shift from just assembling products to manufacturing them in India. The Indian government has taken significant steps to encourage production and has introduced regulations that promote localisation.
EXCLUSIVE ONLY ON THE NEW INDIAN: President of Lava Mobiles & Laptops, Rishi Mohan Bhatnagar, speaks to The New Indian and discusses his plans to make India 5G-ready.
He said, “We are 27% of India’s feature phone market which is not smartphones but keypad ones and we have been… pic.twitter.com/aesYbt2P6i— The New Indian (@TheNewIndian_in) October 12, 2023
READ MORE: Manipur: Pork frenzy in Imphal Valley as prices plunge amid health concerns
“This is a positive move for the Indian electronic ecosystem. The government’s support is crucial in facilitating industry growth. They have also introduced production-linked incentives for IT hardware, which encourages companies to produce in India and localise their operations. This means that more components will be manufactured in India, which will significantly benefit the country by boosting the economy and creating more jobs. We are proudly Indian, and we are focused on aligning with these initiatives.
