The Government confirmed on Tuesday that investment commitment of $75 billion or Rs4,72,500 crore was received from industry in a single day at the launch of ‘Digital India’ week, which was inaugurated by Prime Minister Narendra Modi on July 1.
“On Digital India day (July 1), you will be happy to know that we made a very decisive initiative that investors -- global and Indian -- must declare their intention to invest in India. On a single day in a programme of two hours we were pledged $75 billion investment in the field of ICT and other allied services,” Telecom Minister Ravi Shankar Prasad said while launching Indo-Africa ICT Expo here.
The ministry on July 1 is estimated to have received an investment commitment of about Rs 4.7 lakh crore from leading Indian conglomerates and global companies including Reliance Industries, Bharti Airtel, Aditya Birla group and Vedanta.
“In India we have got a very fantastic expression ‘Jugaad’ technology. What is a jugaad technologyIJ In simple terms, it is innovation. I always say that jugaad technology must be filtered into sophisticated technology to make India a powerful country,” Prasad added.
Telecom Secretary Rakesh Garg said that rising demand of telecom equipment in the country has led to manufacturing of products domestically that can cater to the need of global market as well.
“Rapid growth of the sector has fuelled demand for telecom equipment (in India) including mobile phones which is $20 billion for 2015-16 and is expected to exceed $30 billion by 2020. This large demand has created strong base on which Indian companies have created innovative high quality products and solution,” Garg said.
“As you know Kenya and other African countries are one of the major importers of our telecom equipment. last year, export from India to global market, including Africa and Europe, was over Rs20,000 crore which is more than $3 billion,” Garg added.
The minister with Kenyan Cabinet Secretary Fred O Matiang’i announced dates for three day Indo-Africa ICT Summit 2015 to be held in September-end in Nairobi, Kenya. “When I see Africa on canvas of international politics, I always note India in some way has very crucial role in awakening and empowerment of Africa. From Digital literacy to digital empowerment to digital delivery of services to manufacturing. This experience must be shared with Africa,” Prasad said, adding, it is expected that more than 100 ICT companies will participate in the summit.