India Aims for Trillion-Dollar Tech Sector by 2035
In a bold call to action for India’s technology sector, Union Minister of Commerce and Industry, Shri Piyush Goyal, encouraged the industry to reset its ambitions towards a trillion-dollar opportunity by the year 2035. Speaking at the launch of the NITI Frontier Tech Hub’s roadmap report, “Reimagination Ahead,” in New Delhi, Goyal highlighted the need for the tech industry to embrace innovation to stay competitive in an era defined by artificial intelligence, data centres, and clean energy.
Targeting Data Centre Capacity and AI Leadership
The Minister set an ambitious target of achieving at least 10 gigawatts (GW) of data centre capacity by 2030, positioning India as a global hub for AI-driven technology services. He asserted that the future of the industry hinges on applied AI, large-scale reskilling, domestic value generation, and the retention of talent within India.
Building on Digital Infrastructure
With nearly one billion internet users in the country and the highest per capita data consumption rate globally, Goyal emphasized that India is ideally poised for expansion in the tech sector. Recent advancements such as affordable data access, the rollout of 5G technology, and the impending 6G capabilities have fortified India’s digital ecosystem, contributing to the growth of a technology services industry worth between $250 billion to $300 billion.
Historical Context and Infrastructure Reforms
Reflecting on past achievements, Goyal mentioned the New Telecom Policy of 1999 introduced under Prime Minister Atal Bihari Vajpayee, which paved the way for affordable digital connectivity. Additionally, he noted the advancements made to India’s unified national power grid, which now boasts an installed capacity of 500 GW, comprising 250 GW of renewable energy.
Renewable Energy Initiatives
India has made significant strides in renewable energy, thanks to transparent bidding strategies that have driven down solar tariffs to approximately ₹2.31–₹2.41 per unit and wind tariffs to around ₹2.5 per unit. Currently, clean energy is supplied at under ₹6 per kilowatt hour, with plans to reach a renewable capacity target of 500 GW by 2030.
Tax Incentives and Future Prospects
The Minister also pointed out recent budget measures that offer income tax benefits for select investments up to 2047, which are anticipated to spur foreign direct investment, increase foreign exchange revenues, and create jobs, particularly within the data centre ecosystem. Initiatives surrounding clean energy integration, nuclear expansion, and green technologies are set to bolster India’s global competitiveness.
Focus on Artificial Intelligence and Cybersecurity
Addressing the role of AI, Goyal underscored that while AI has the potential to enhance human capabilities, maintaining cybersecurity, data integrity, and human validation remains paramount. He called for widespread AI education among business leaders and policymakers to facilitate effective adoption across industries.
Collaborative Approach to Industry Growth
Goyal proposed a collaborative approach, suggesting structured engagements involving ministries and industry bodies such as NASSCOM to tackle emerging challenges in the tech sector. He recommended dedicating one Saturday each month for continuous dialogue between stakeholders to refine strategies and streamline processes.
Government Support for Technological Advancement
Concluding his address, Shri Goyal assured that the government is fully committed to partnering with the industry to ensure that India emerges as a leader in technology services and frontier technologies. With a forward-looking vision, he expressed optimism about the nation’s trajectory in the global tech landscape.
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