Finance Minister Sitharaman Sets Vision for India's Global Leadership in AI by 2047
New Delhi: Exuding confidence in India to become the third largest economy in the world, Union finance minister Nirmala Sitharaman on Tuesday said that the country should become a global hub for artificial intelligence or AI and India would set up centres of excellence for the same. Anticipating the nation to become a developed nation or ‘Viksit Bharat’ by 2047 on the 100th anniversary of independence, she also asked India Inc to align itself for the developmental goals and emphasised on the growth of green energy, agriculture and warehousing sector in the country as well.
Addressing a session on ‘Viksit Bharat @ 2047: Viksit Bharat & industry', organised by Ficci, the finance minister also said that industry’s role is critical in achieving the goal by 2047. “There are some areas in which the government is focussing a lot like space, AI etc. We have emphasised that India should become a global hub for AI and we will set up centres of excellence for the same. Apart from the agricultural warehousing, we are offering support on policy, legislative, investment front and bringing people together for the larger warehousing sector,” Ms Sitharaman said.
The finance minister also said Prime Minister Narendra Modi has clearly indicated that the goal of Viksit Bharat is to be attained to provide the future generations a better India. “You were with India during the freedom struggle, you built industry and capacity despite the colonial pressure. So Indian industry has always kept that spirit up and against terrible odds kept moving along on national interest. I can’t see how they will be left out in this game of building a developed India by 2047. So it should be natural to India's industry to align itself with India's developmental interests, she said.
Ms Sitharaman also assured the industry that reforms will continue in the third term of the Prime Minister Narendra Modi-led government. “That’s why the PM is confident that in the third term we will be the third largest economy. It's because of the push, which he likes to give in these areas, not just fiscal, but legislative and other measures as well. I think a great leap forward has been made in logistics with the PM Gati Shakti. Whether it's logistics, agriculture productivity or tourism, we have immense potential and the government is committed to its policy,” the finance minister said.
On green energy, she further said that renewable energy has better prospects for not just solar or wind, but the government is also looking at renewing its commitments to hydroelectric power. “In green hydrogen and green ammonia, big investments are happening in India. Even after Covid, the government showed its commitment by ramping up capital expenditure. Indian industry can now surely move forward with a great speed globally as investments are coming in. It is time for the Indian industry to also capitalise,” the finance minister added.
