Union Minister Emphasizes Transparent Regulatory Approach and AI Integration for India’s Tech Growth

Mumbai: In a virtual engagement during the Mumbai Tech Week, Union Minister of State for Skill Development and Entrepreneurship, Electronics and Information Technology, and Jal Shakti, Shri Rajeev Chandrasekhar, shared insights on the transformative regulatory approach of the Narendra Modi Government and discussed India’s emerging role in the global tech landscape.

Highlighting the need for transparent and consultative regulation, Minister Chandrasekhar contrasted the current administration’s approach with past practices in the telecom sector, which, he mentioned, had been plagued by scams. He emphasized the importance of creating a framework that involves all stakeholders in order to ensure the orderly growth of the economy, stating that without rules and guardrails, innovation could lead to chaos.

Addressing India’s changing global position, particularly in semiconductors in comparison to China, Minister Chandrasekhar noted a significant shift in momentum. He highlighted India’s strides in the semiconductor industry, with two full-blown fabs and $10 billion in fab investments, along with partnerships with leading technology firms. Chandrasekhar also announced the launch of the India Semiconductor Research Centre, a state-of-the-art research center attracting major semiconductor makers globally.

During a rapid-fire interaction, Minister Chandrasekhar expressed the government’s commitment to maximizing the use of AI for the benefit of citizens. He outlined the government’s intention to leverage AI for economic growth, healthcare, drug discovery, agriculture, and farmer productivity. The Minister emphasized a practical approach, steering away from mere bragging rights, and highlighted the government’s focus on supporting education in multiple languages and datasets.

As India positions itself as a global tech player, the Narendra Modi Government’s commitment to transparent regulation and the strategic integration of AI signals a forward-looking approach to harnessing technology for the nation’s progress.