India now aims to make the best of the opportunity to lead this technology revolution, Krishnan said while speaking at the 10th Annual Forum of the Public Affairs Forum of India (PAFI) in New Delhi.
Sharing India’s prowess in the manufacturing sector, Krishnan said that while a lot still needs to be done, India has begun exporting mobile phones. Just 10 years ago it used to import 98% of mobile phones. “This is India’s moment and it needs to be competitive,” he said.
The main focus area today is semiconductor missions, and India now has “10 million semiconductor missions”.
Speaking on the occasion, Sanjay Verma, Secretary (West), Ministry of External Affairs, pointed out various aspects of geopolitics and its impact on global trade. “Geopolitics has thrown up a lot of challenges today. Most of the decision-making globally is based on the economy. What is important for the country is de-risking. India is a new China, and 50% of the global growth will be in India and China,” added Verma.
On jobs, Krishnan said as India sees growth and its per capita income increases, more jobs will be generated. This is because of technology, and the electronic manufacturing sector has been supporting it, he said, adding that the fifth-largest economy is moving towards becoming the third-largest economy.
