Gujarat need not follow other states in development of IT sector but instead focus on how to leverage technology to the advantage of its acumen in manufacturing sector
Gujarat should leverage the power of Information Technology (IT) in sectors, which are its core strengths, to accelerate growth, National Association of Software Services Companies (NASSCOM) president Debjani Ghosh said while talking on the sidelines of Vibrant Gujarat Startup and Technology Summit held in Gandhinagar on Thursday.
Ghosh said India’s digital economy is poised to grow from $167 billion to $1 trillion and it is expected that Gujarat will have a share of 10 per cent ($100 billion) from its existing size of close to $1 billion. Gujarat need not follow other states in development of IT sector but instead focus on how to leverage technology to the advantage of its acumen in manufacturing sector, she said.
“Gujarat has been growing at about 10 per cent now. How many states are growing at this pace? It means the state is doing something right. It can use technology in the manufacturing sector to accelerate its economic growth,” Ghosh said. She said India’s digital economy is worth $167 billion, which is estimated to grow to $1 trillion. IT sector in Gujarat is worth about $1 billion. “Considering its entrepreneurial trait in manufacturing sector Gujarat should have at least 10 per cent share in India’s digital economy ($100 billion).
Former NASSCOM chairman CP Gurnani said Gujarat should take this up as a challenge and it has the capacity to leapfrog as it has close to 2,000 entrepreneurs in the technology sector. Gujarat Chief Minister Vijay Rupani said that the state government has recently accorded IT sector, a status of the industry, which will accelerate its growth. State Chief Secretary J N Singh said that Gujarat has taken up the challenge to grab 10 per cent share in India’s digital economy.
As a part of the Summit, a ‘Grand Challenge’ is also being organized and the winners will get total prize money worth about Rs three crore. Close to 150 startups are participating in the challenge, which tries to find solutions to pain-points identified by the government.
Canada invites startups
Canada has invited startups hard-selling itself as a ‘best startup partner’. “Our doors are wide open. We provide diversity and openness to people and ideas. We have Free Trade Agreement with European Union and preferential access to about half of world’s GDP,” said Chad Hensler.
MoU between Industries Department, government of Gujarat and Yes Bank
Two Memoranda of Understanding (MoU) were signed on Thursday during Vibrant Gujarat Startup and Technology Summit held in Gandhinagar. State Industries Department partnered with Yes bank to create an enabling start-up ecosystem through its accelerators, Yes Fin-tech and Yes Scale, while Gujarat Government will support and facilitate in the selection and mentoring of start-ups. In another MoU, Gujarat University Start-up and Entrepreneurship Council (GUSEC) and Canada’s Launch Academy will partner to enhance capacity and quality of startups, entrepreneurs, innovators and mentors, as well as engaging in activities aligned with the objective of both organizations.
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