Technology and innovation
The third term has brought a laser focus on technology and innovation. The government’s PLI White Goods Scheme has entered its third round. The scheme has driven significant domestic value addition in air conditioning and LED segments, with AC value addition rising from 25% to 55%.
A major development in AI is the India AI Mission, which invites companies to provide AI services on the cloud, with an outlay of $1.24 billion. The Defence Research and Development Organisation (DRDO) also launched the Divya Drishti tool, which enhances accuracy in identification through AI-powered face recognition combined with physiological parameters.
In telecom, reforms under the Telecommunications (Administration of Digital Bharat Nidhi) Rules, 2024 aim to enhance digital connectivity and boost innovation.
Similarly, the medical devices sector has seen policy changes, such as the reduction of duties on key equipment like X-ray tubes. The revised rates are expected to boost the X-ray machine industry by enhancing component availability at lower costs, driving growth in the domestic medical device sector and making advanced medical imaging more affordable and accessible.
