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Minister of State for Electronics and IT Rajeev Chandrasekhar on Thursday said that in the semiconductor space, the country will soon have a talent pool of 85,000 who will not only create innovative designs and solutions for the country but also for the world.

Addressing an event organised by the non-profit Public Affairs Forum of India (PAFI), the minister said that India's 'Techade' is changing the narrative of the country being a IT/ITES hub.

"Our digital economy pie has transitioned from a unipolar prism of IT/ITES to one that consists of almost every activity in the digital economy space that the world is pursuing," he told the audience.

The minister also said that in the space of semiconductor, in just 14 months, the country has not only created opportunities in manufacturing and design but "with brand new curriculum in place, we will soon deliver a brand new 85,000 talent pool not only for India but also for the world".

"What China took 30 years to achieve, our government and country want to implement in one decade. The focus has been on moving 'New India' from being an outlier on the fringe in the Global Value Chains of electronics to becoming a serious player," Chandrasekhar emphasised.

On the Digital India Act (DIA), the minister said it is going to supersede the IT Act, which has gone into the pre-consultation phase.

"We have already had some fruitful discussions. We want to be transparent and collaborative about it," he told the audience.

"The laws and framework of policies we are creating are not just for today but for the next decade. And for that we want consultations with everybody, from consumers to companies, to anyone who has a point of view," the minister added.

India's semiconductor market is projected to reach $64 billion by 2026 and Chandrasekhar will meet and encourage startups, next-generation innovators, chip designers and business leaders to invest in the semiconductor sector at an event as part of a series at IIT Delhi on May 12.