MUMBAI: The Indian electronics manufacturing sector currently employs close to 2 million people and the country aspires to take that figure to about 4.5 million in the next few years with initiatives like local chip manufacturing, said S. Krishnan, Secretary, IT Ministry here on Wednesday.

During a virtual fireside chat at the ‘India Digital Summit’ (IDS) 2024, Krishnan said that semiconductor is the next big space for the country to grow.

“More companies are likely to come into the space. I think that is the space to grow over the next five to 10 years. Our interest in semiconductors is open,” he told the gathering.

“We have close to 2 million people who are employed in the electronics manufacturing sector and we would like to go up to about 4.5 million as well”.

In a conversation with Deepak Jacob, Group General Counsel, Dream Sports, Krishnan said that “we expect the digital economy to really grow at an increasing pace in the next few years”.

On regulation, the IT Ministry secretary said that while balancing consumer protection and diverse requirements, “we thoroughly examine regulations to ensure the safeguarding of user information”.