The gaming industry has a sizable international market, and India is attempting to expand its presence in it: Modi
The prime minister also emphasized the necessity of the country having a strong data security framework, which he said India now needs to develop rules and norms for.
Prime Minister Narendra Modi exhorted industry leaders from science sectors to increase investment in sunrise sectors outlined in the budget, such as geospatial technology, drones, genomics, and AI while giving the opening address at a post-budget webinar organized by the office of the Principal Scientific Advisor on “Technology-Enabled Development.” The Prime Minister placed a special emphasis on the gaming industry, which he claimed had a large international market and in which India was looking to expand its presence.
“As you are aware, we have established certain new traditions over the last two years, the first of which is pushing forward the union budget by an entire month. Because the budget goes into effect on April 1st, we have two months to prepare. In this interim period, we’re attempting to bring together all stakeholders – from central and state governments to public and private players, departments, and so on – so that we can all look at how the budget can be executed most efficiently. The Prime Minister stated, “This is a collective effort to ensure that, in light of the budget, we can execute the provisions promptly, seamlessly, and with the best possible outcome.”
Science and technology is not an isolated industry for this government, according to the Prime Minister. The vision is linked to sectors such as the digital economy and fintech in the economic field.
“Also, modern technology plays a significant role in infrastructure and public service delivery. For us, technology is a means of empowering the people of the country. Technology, in our opinion, is the most important factor in making the country self-sufficient. He continued, “The same ambition is reflected in this year’s budget as well.”
Modi emphasized the budget’s focus on emerging areas such as artificial intelligence, geospatial systems, drones, semi-conductors, space technology, genomics, pharmaceuticals, and clean technologies, all of which are expected to contribute to 5G. According to him, the budget lays out a clear roadmap for 5G spectrum auctions, and PLI plans for design-led manufacturing linked to a strong 5G eco-system have been presented. He urged businesses to step up their efforts in this area.
“The gaming industry is large globally, and the number of young people who are involved in it is growing. That’s why we focused on Animation Visual Effects Gaming Comic (AVGC) in this year’s budget,” he explained.
The prime minister emphasized the importance of communication centers and fintech, and he requested an indigenous ecosystem with reduced foreign dependence for both. “From our self-sustainability to vaccine manufacturing at the time of Covid, the world has seen our dependability.” “We must emulate this accomplishment in every industry,” Modi said, adding that most of India’s medical equipment needs should be handled locally in the future.
The prime minister also emphasized the necessity of the country having a strong data security framework, which he said India now needs to develop rules and norms for.
Modi also mentioned the PLI initiatives of Rs 2 lakh crore, which are being implemented in 14 critical areas to promote manufacturing in the country. He advised stakeholders to focus on citizen services, e-waste management, the circular economy, and electric mobility as areas for optical fiber innovation and investment.
