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Innovation Powered by ‘Make In India’ and ‘Digital India’ to Boost India’s Global Technology Leadership in 2023

With the introduction of new technologies like Metaverse, augmented reality, and virtual reality, people in the physical world are now able to experience the digital world, and 2023 will see more of this trend.

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As 2022 comes to an end, Mr. Hitesh Garg,  India Country Manager, NXP Semiconductors expressed his views on how this advancement of cutting-edge next-generation technologies are going to shape in 2023.

Mr Garg commented, “India has been fuelled by innovation to become one of the world’s fastest-growing economies, especially with programmes like “Digital India” and “Make in India”. These initiatives have opened a plethora of opportunities to innovate in the new gen-tech across industries. According to NASSCOM, the Indian engineering, R&D development market’s share of the global market is anticipated to increase by 12–13% CAGR to reach US$63 billion by 2025.”

“With the introduction of new technologies like Metaverse, augmented reality, and virtual reality, people in the physical world are now able to experience the digital world, and 2023 will see more of this trend. As consumer demand increases and products and services will become more energy-efficient, we will focus on developing supply networks and sustainable technology in 2023,” Mr Garg also added, “The increase in demand has further created a need for more faster, smaller, and efficient semiconductor chips to ensure that the infrastructure and technology are prepared to shift to Industry 4.0. Therefore, at NXP, we focus on creating a smarter and more connected world with the next gen-tech. In addition to this, we are focusing on vehicle electrification, smart infrastructure, and in the upcoming time, we will also be working on new gen-tech like digital keys, AI accelerators, etc.”

 

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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