According to Nadella, India’s tax expenditure as a percentage of GDP is becoming more normalised when compared to the developed world, and it is now among the top ten countries.
Bengaluru: As India accelerates its digital journey, Microsoft intends to move in and provide every part of its tech stack to the country and its innovators in order to help it become a $1 trillion digital economy as the country invests more in its tech sector, said Microsoft Chairman and CEO Satya Nadella here on Thursday.
According to Nadella, India’s tax expenditure as a percentage of GDP is becoming more normalised when compared to the developed world, with the country now ranking among the top ten.
“I wonder what will happen if India invests more in its technology sector? What is the global productivity gain that can be realised? And here, we want to bring our world-class offerings,” Nadella said behind closed doors.
“We want to provide infrastructure. We wish to serve as the developer amplifier. “We want to provide every component of our tech stack to basically help the country gain leverage toward becoming a $1 trillion digital economy soon,” he stressed.
Prime Minister Narendra Modi stated last year at the opening ceremony of the BRICS Business Forum in virtual mode that India’s digital sector valuations will soon surpass $1 trillion.
Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, stated in November that “we will undoubtedly see our trillion-dollar digital economy goal become a reality” over the next 5-7 years.
The IT and BPM sector has emerged as one of the most important growth engines for the Indian economy, significantly contributing to the country’s GDP and public welfare.
According to the India Brand Equity Foundation, the IT industry accounted for 7.4% of India’s GDP in FY22 and is expected to contribute 10% by 2025.
According to Nadella, we are no longer just a software company, but a full-service provider of systems.
“We’re making everything in India so that others can make in India, whether it’s a small business or a public sector project,” he explained.
The Microsoft CEO stated that the company is investing capital in India, such as the construction of new data centres.
“We now have three data centres, with a fourth on the way,” he said.
