PM Modi launched several digital initiatives such as ‘Digital India Bhashini’, ‘Digital India GENESIS’ and ‘Indiastack.global’
He also announced the first cohort of 30 institutions that would be supported under the Chips to Startup (C2S) Programme
The prime minister also praised India’s fintech ecosystem, calling it a solution by the people, of the people, for the people
Prime Minister Narendra Modi on Monday (July 4) inaugurated the Digital India Week 2022 in Gandhinagar and launched a slew of digital initiatives to boost the startups in the country.
The prime minister launched ‘Digital India Bhashini’, ‘Digital India GENESIS’ and ‘Indiastack.global’, which are aimed at enhancing the accessibility of technology and streamlining service delivery as a boost to the startups.
He also announced the first cohort of 30 institutions that would be supported under the Chips to Startup (C2S) Programme.
The C2S Programme aims to train specialised manpower in the area of design of semiconductor chips at Bachelors, Masters and Research levels. The initiative would act as a catalyst for the growth of startups involved in semiconductor design in the country, the government said in a release.
Saying that countries which do not adopt modern technology are left behind, Modi said India is guiding the world in the fourth industrial revolution, Industry 4.0.
The prime minister further noted that the Digital India initiative has brought the government to the doorsteps and phones of the citizens. More than 1.25 Lakh Common Service Centres and Grameen Stores are now taking e-commerce to rural India, he said, adding that property documents for rural properties are also being provided by the use of technology.
“We have transferred thousands of crores of rupees to the bank accounts of crores of women, farmers, labourers of the country at a single click. With the help of ‘One Nation. One Ration Card’, we have ensured free ration to more than 80 crore countrymen,” Modi said.
Talking about how different sectors in the startup ecosystem have evolved following the launch of the Digital India initiative, Modi said that the government has opened up new sectors, like space, mapping, drones, gaming and animation, which will expand the future of digital technology, for innovation.
“Provisions like IN-SPACe and new drone policy will give new energy to India’s tech potential in the coming years in this decade,” he said.
Last week, the Indian Space Promotion and Authorisation Centre (IN-SPACe) approved two space startups – Dhruva Space and Digantara – to launch their payloads in space.
Praising the country’s fintech ecosystem, Modi said, “India’s fintech endeavour is truly a solution by the people, of the people, for the people… There is scale, security and democratic values in our digital solutions.”
The statement comes at a time when the Reserve Bank of India (RBI) is tightening the regulations around fintechs. Recently, the central bank said that non-bank fintech players cannot load prepaid payment instruments (PPIs) with credit lines. The RBI is also planning to come out with regulations for digital lenders.
Moreover, despite the Digital India initiative, internet shutdown across the country has become a common occurrence over the last few years.
In 2020, India suffered a loss of over $2.8 Bn due to 129 internet shutdowns. As of May 2022, Jammu & Kashmir topped the list of internet shutdowns with 400 such cases since 2012, according to a report. Kerala, Goa and Sikkim are the three states to remain free of internet shutdowns so far.