Union Minister Ashwini Vaishnaw announced on 14 October that India is formulating a comprehensive plan spanning 20 to 25 years aimed at minimising critical technology dependencies. The minister, who oversees railways, information and broadcasting, and electronics and information technology, highlighted the need for India to bolster its resilience against global disruptions. Speaking at the Bloomberg New Economy Forum in the national capital, Vaishnaw stated that the country seeks to become a reliable partner within global technology supply chains, rather than striving for complete self-sufficiency.

Vaishnaw emphasised the dynamic nature of global politics and geopolitics, stating that India must continually adjust its strategies. He remarked, “Things change, politics change, geopolitics play a big role, so we have to constantly calibrate our approach, and we in India are thinking at least 20 years ahead.” The forum, which is hosted by Bloomberg Media Group, featured discussions on various aspects of technology and its implications for global economies.

During the event, Cisco Chairman and CEO Chuck Robbins shared insights on India’s potential, noting that the country’s scale and its method of forging partnerships with trusted companies could lead to a practical approach towards achieving technology sovereignty.

Focus on Building Domestic Capabilities

Vaishnaw outlined India’s strategy of setting short-term goals for three to five years, medium-term targets for five to 15 years, and long-term objectives extending to 20 to 25 years. He reiterated the importance of developing domestic capabilities in strategically significant sectors while maintaining integration with global value chains. The minister acknowledged that technology remains a global industry, necessitating a focus on identifying strategic dependencies that could jeopardise India’s economic stability.

He specifically highlighted the need to cultivate a comprehensive semiconductor ecosystem, which includes materials, chemicals, and manufacturing processes. Vaishnaw pointed out that India’s second phase of the semiconductor programme places a stronger emphasis on these foundational inputs, indicating that building such capabilities will require sustained effort over time.

“Without an ecosystem, no manufacturing effort will ever pay off,” Vaishnaw stated, citing the mobile phone industry as a case study of India’s transition from assembly to manufacturing components. He noted that India has progressed to producing many essential components domestically and has begun exporting some to other nations.

Addressing Future Challenges and Risks

Vaishnaw also underscored the necessity of enhancing research and development funding, particularly in applied research. He cited the successful development of India’s end-to-end 4G telecom stack, achieved through collaboration between the government and private sector within three-and-a-half years. This system is now operational on over 100,000 towers across the country.

Furthermore, the minister raised concerns about potential global financial and technological disruptions, particularly the impact of artificial intelligence on employment and the pressures arising from high debt levels in advanced economies. He warned that these factors could lead to significant turbulence in the future.

Vaishnaw concluded by stating that India is preparing to enhance its financial, economic, and technological resilience. He noted that the public debt-to-GDP ratio has decreased from 61 per cent to 55 per cent over the past five years, reflecting the country’s efforts to strengthen its economic foundation.

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