India needs investment in AI, semiconductors and quantum computing – minister
Indian Finance Minister Nirmala Sitharaman outlines key areas for infrastructure development
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Photo source: Mahir Asadli / iStock
India needs to attract and make substantial investments in infrastructure related to artificial intelligence (AI), semiconductors and quantum computing. This was stated by the country's Finance Minister Nirmala Sitharaman. Her remarks were reported by IANS, a TV BRICS partner.
Nirmala Sitharaman called on the country's small and medium-sized enterprises to adopt AI-based solutions to boost productivity and strengthen their competitiveness in the global market. The Minister stressed that technology and innovation should extend across all sectors of the economy, including agriculture, renewable energy and advanced manufacturing.
“India’s transformation has been driven by sustained efforts to strengthen institutions, restore confidence and open sectors to private participation, while creating policies that enable young people, entrepreneurs and innovators to contribute to economic growth,” Sitharaman said.
Speaking about opening the space sector to private businesses, the Minister noted that Indian start-ups are already designing and manufacturing satellites, as well as carrying out space missions. Against this backdrop, there is a need for long-term financing and new early-stage funding mechanisms for high-technology start-ups.
“Our MSMEs, which produce everything from basic components to aircraft parts, need AI solutions to improve productivity and compete globally,” Sitharaman noted.
According to the Finance Minister, technology-driven growth in India's economy will require closer cooperation between different sectors of the economy.
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