Make in India for the World
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Make in India for the World

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Make in India for the World

Sujith Vasudevan, Managing Editor, 0

If innovation transforming a country was a technology, it would surely look like India’s Unified Payments Interface (UPI), the instant payment system developed in India and now getting exported across the globe. India does more digital transactions today than that of the US, China, and Europe combined. India's success in digital transactions can be traced back to the launch of digital India in 2015.

Our country's budding technology leaders have much to learn from this case study. Solving societal challenges with futuristic technologies and innovations with
foresight is a great way to succeed. Over the past nine years, India has taken the lead in creating technologies instead of being a mute spectator and consumer of technology. Remember, India-problems always require India-solutions. However, India has no plan to take its foot off the gas. The government has already devised meticulous plans to make the country a manufacturing hub. For instance, the Indian Semiconductor Industry market size is expected to reach $ 271.9 billion by 2032, growing a CAGR of 25.7 percent, according to reports.

Union Minister Ashwini Vaishnav says, “We are focusing on specific areas where we can take global leadership. We have emerged as a major telecom and EV (electric vehicle) semiconductors segment. If we focus on developing and manufacturing chips used in these segments, we can become a global leader in these. Work is being done keeping these emerging areas in mind.” On the other hand, Union Minister Jyotiraditya Scindia recently said that India will have 4,500 Vande Bharat trains running across the country by 2047. India is changing and doing so by creating a lot of opportunities across sectors. I wish everyone a happy new year — one that allows you to grab such opportunities.