It is believed that the Dream Of Digital India Will Be a part of India’s villages – PM Modi

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PM Modi discussed the effects of 4 Lakh of India’s service centers that are common in villages, and stated that there are four Lakh digital entrepreneurs that are being created.

40% of Digital transactions happening around the world are performed in India Modi, PM Modi

The Digital India movement and the steps to 5G, semiconductors and optical fibre are more than an identification tool for differentiating PM Modi

The Prime Minister praised the accomplishments that was achieved by the Digital India mission, Prime Minister Narendra Modi stated that the vision of an electronic India will be fulfilled by utilizing the potential of villages to the maximum.

“The vision of Digital India will go through the villages of India,” said the PM from the apex on the Red Fort on India’s 76th Independence Day.

In addition, the Prime Minister spoke about the effects on the impact of Digital India on villages, and how the talents in villages will be the digital entrepreneurs of the future.

“I am pleased to inform to you, that four Lakh of India’s most popular service centres are located in villages. Young people run these centres of service within the village. It’s a moment of pride for all of us to know that more than 4,500 digital entrepreneurs are working to provide services for the residents of village,” PM Modi said.

Read more 5G, Startups and Innovation: How Well Prepared is India 

Based on the Telecom Regulatory Authority of India (TRAI), India has more than 1.1 Bn telecom subscribers as on May 31st 2022. From the total, 794.68 Mn were internet users and this makes India the nation with the second largest internet users globally.

Of all internet users in India greater than 373 million resided in rural areas so, nearly 50% of India’s internet users are from villages.

PM Modi also spoke about the fintech startups in India, saying that thanks to the advances created in the fintech field, a large portion of all world’s digital transactions are conducted in India. “40 percent of Digital transactions that take place around the world are carried out through India,” he said.

It is worth noting that thanks to UPI businesses in India have been able to record greater than 6 billion digital transactions in the month of July 2022. According to the data of the National Payments Commission of India (NPCI), Fintech players in India helped facilitate digital transactions totalling 10.63 Lakh Cr. 10.63 Lakh Cr in July 2022.

Speaking more about what is known as the Digital India movement, the PM stated, “The Digital India movement and the steps taken by the country toward semiconductors, 5G and optical fiber aren’t only a way to differentiate. There are three main driving forces driving it. Revolutions in health, education and the transformation of all life will be a result of digital technology.”

The PM was referring towards an PLI programme for semiconductors as well as the recently concluded 5G spectrum auction as well as the BharatNet project.

In the Union Budget speech, Finance Minister Nirmala S. Sitharaman announced she was confident that her BharatNet initiative, which aims to connect the country’s six Lakh Gram Panchayats by optical fibres to enable internet connectivity is expected to be completed by 2025..

The auction of 5G spectrum, which was concluded recently that lasted for the duration of 40 bidding rounds, and received bids for spectrum valued at INR 1.5 Lakh crore which will see three private telcos – Reliance Jio, Bharti Airtel and Vodafone Idea – roll out 5G throughout various cities over the next few months, with complete 5G coverage anticipated in 2024.

The Digital India RISC V programme was announced recently in the Centre’s 76,000 crore Semicon India program to develop the electronic industry in India. The government’s goal is to have India utilize semiconductors that cost as high as $80 Bn to produce electronics worth $300 Bn in 2026.

The two industries that the PM spoke of – edtech and healthtech, can boast of the 11 unicorns, and eleven quickicorns which are as the most profitable from an investor’s perspective. Both sectors are vital from a consumer perspective and both gained prominence after the pandemic.

According to Inc42’s report ‘ “The State of the Indian Startup Ecosystem, 2022 856 funded startups from both sectors have raised $15.3 Billion in funding since 2014 through H1 2022.

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