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Disruptive tech can fetch India up to $1 tln by ’25: Nasscom

We are working with the government to smoothen bottlenecks for start-ups, said Nasscom, President, R Chandrashekhar.

Prime Minister Modi is all set to visit the Silicon Valley with prime focus on getting a positive response from IT companies and investors for their Digital India and Star-up India Missions.

Following the event CNBC-TV18’s Kritika Saxena caught up President of Nasscom, R Chandrashekhar and asked about the impact Disruptive Technology would have on India and the estimated value it would bring into the economy.

Chadrashekhar said disruptive technology had the potential to bring in USD 500 billion to USD 1 trillion annually by the year 2025 but for that a series of concerted efforts were required – first would be to nurture and support the start-up ecosystem.

(A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry.)

There are bunch of other things that also need to be done, which have been identified, listed and shared with the government, he said.

“The government needs to enable these innovations and technology products to get integrated into the economy, as well as into the government,” said Chandrashekhar.

He said Nasscom was working with the government to smoothen bottlenecks for start-ups and would also build incubators for Digital India. They are also exclusively working with the government to foster ecosystem for innovation, said Chandrashekhar.

Speaking on the Visa issue which has been a topic of worry for Nasscom and its member companies, he said: “There has misperception and a complete misprojection that the IT industry is only taking away jobs from the US without recognising the fact that this is something which actually has benefited the US even more than it has benefitted India.”

However, the US government has now been open to simplify visa norms for Indian IT companies, he said.