NITI Aayog's Recommendations for India's Technology Services
NITI Aayog has laid out a comprehensive plan to boost India's technology services sector, as detailed in its report titled ‘India’s Technology Services — Reimagination Ahead’.
Key Proposals
- Structured Tech-Services Trade Missions:
- Target priority regions including Japan, West Asia, and Germany.
- India Tech-Services Brand Platform:
- Position small and specialist Indian players as trusted partners in Artificial Intelligence (AI).
- Market Access Facilitation Cell:
- Provide structured assistance to specialist players.
Strategic Recommendations
- Stock Market Insights: Commerce and Industry Minister Piyush Goyal encouraged participants to invest in IT stocks and to maintain faith in India's IT services ecosystem.
- Transformation for AI: Emphasized the urgent need for transformation in AI to prevent job losses and maintain global technology leadership.
- Reskilling Workforce: Proposed reskilling of the workforce to protect approximately 1.5 million jobs at risk due to AI advancements.
- Maintaining Global Leadership: Highlighted the importance of capturing the data opportunity to sustain India's competitive advantage.
Conclusion
The report warns against inaction, which could lead to job losses, a decline in global technology leadership, and loss of opportunities in data-driven growth. It stresses on decisive action to maintain strategic advantages like India's vast talent base and its unparalleled data endowments.
