Government is aiming at a $ 1trillion digital economy by 2020: Ravi Shankar Prasad

Information and Technology Minister Ravi Shankar Prasad said on Wednesday that the Government is aiming at a $ 1trillion digital economy by 2020.

"On the back of the 'Digital India' movement led by millions of young Indians, we are witnessing a rise in adoption of electronic devices, smart appliances, and mobile phones," he said on Samsung event.

Prasad added, " A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country."

He further added that "42 mobile manufacturing units, 30 mobile component units have come up in the past three years. These are unprecedented numbers. Samsung is not only making in India but now India will make for the world."

Meanwhile the South Korean giant today announced Samsung today announced the investment plan of Rs 4,915 crore in Noida plant which manufactures smartphones, refrigerators, and TVs.

HC Hong, President, and CEO, Samsung Southwest Asia, said, "This new investment of Rs 4,915 crore is a testament to our continuing commitment to 'Make in India' and to Uttar Pradesh, which has been our partner right from the day Samsung's journey in India began. Steadfast support from the state and local authorities in Noida has helped make our vision of 'Make for India' a reality. Today, on the back of the Digital India movement led by millions of young Indians, we are witnessing a rise in adoption of electronic devices, smart appliances, and mobile phones. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country."

The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators. The investment proposal was recently approved by the Uttar Pradesh government under its Mega Policy