MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics & IT (MeitY), and Meta has announced the launch of the XR Startup Program to help foster Extended Reality (XR) technologies in the country. This initiative, focused on skilling and building technological capabilities for the metaverse, will help shape the ecosystem for these emerging technologies.
According to a recent study by the Analysis Group, the Metaverse is estimated to add $240 billion or 4.6% to India’s GDP by 2031, potentially impacting many aspects of existing economic influences from employment opportunities, specialized industries, infrastructure, and more. The XR Startup Program will include an Accelerator and a Grand Challenge – that aim to boost the emerging tech ecosystem in the country and encourage innovation in a variety of sectors such as education, learning and healthcare amongst others.
Speaking on the occasion, Mr Rajeev Chandrasekhar, Hon’ble Minister of State for Electronics & Information Technology, and Skill Development & Entrepreneurship, said, “I look forward to the collaboration with Meta and I hope it provides the necessary impetus towards fuelling the growth of investments in future technologies in line with the government vision for making India a trillion dollar economy by 2025”.
