India is aiming to boost its Internet and technology sector by seeking investors from UAE. The additional secretary of the government’s department of electronics and information technology (Deity), Ajay Kumar, told the audience of UAE business delegates in Mumbai regarding the options of investing in this sector. This was at a conference which coincided with the Crown Prince of Abu Dhabi’s visit to India.
Mr Kumar also said that India is quite eager in partnering with UAE for the setting up semiconductor manufacturing unit in India given the country’s proven track record in this field. Mr Kumar also emphasised that India would like to set up a US $1 billion joint innovation fund with the UAE which will majorly focus on electronics and ICT start-ups. He also said that India is trying to raise funds in electronics, information technology, telecoms, the Internet of Things and e-commerce that have tremendous growth potential.
He stressed that “with India’s human resources and talent, India’s growth in this sector, the changing and new face of India, I think this is the opportunity between two countries.” He elaborated that more number of indians in rural parts of India were utilising e-commerce and government Internet-based services.
The Indian government is targeting areas like the development of infrastructure – including data centres and services in an endeavour to promote digital access in India. He also stated that he wanted for UAE investors to also take a part in this segment, as well as areas like “digital lockers”.
