Indian digital economy can touch trillion dollars over next few years: Rajeev Chandrasekhar

Rajeev Chandrasekhar, Union minister of state for electronics and information technology believes that India’s digital economy will touch a trillion dollars over the next few years, with electronics production, and export doubling every year.

In an exclusive conversation with CNBC-TV18, Chandrashekhar said he does not see the startup momentum slowing due to macro factors, but says there will be a pricing correction in the traditional consumer tech space.

“I think what is happening in the traditional consumer tech, the startups that were innovating around the internet and consumer tech franchises may be plateauing out in terms of the numbers of startups in that space. Certainly, in that space, there is a pricing correction that we are seeing as investors based on global trends re-evaluate what the pricing and valuation expectations are,” Chandrashekhar said.

This positive outlook on India's digital economy is in line with the government's ongoing efforts to promote and support the growth of the country's technology and innovation sectors. The continued expansion of the electronics production and export sector, in particular, is expected to drive significant economic growth and job creation in the coming years.