Digital Bharat Economy Conclave HIGHLIGHTS: How can a market model benefit investors

“The next decade of innovation will be from India”

“We are the world's largest per capita and consumer of data. We have a plan which's a work-in-progress”

“We are going to find out the legitimacy of databases. Mimicking of data is very simple. We have made efforts to ensure that every application within the government follows the standard practices. We have formulated the national data policy, and a legal data governance policy will be introduced in the parliament”

“We should be excited about the factories which are manufacturing smartphones. In 2014, 82% of Indian phones were imported and this year, we have exported 1 lakh crores Apple smartphones. 2019 onwards, we have ramped up the process. The factories employ 74% of women”

“Our approach towards user regulations is considered better. I think the digital opportunity is huge. So, the time and place for new global standards is appropriate. We have pre-consulted on the Digital India Act, which's the first time in our history. Hopefully, by the month's end we'll have a draft,”

“The future of AI will be driven by partnerships. AI, quantum and semiconductor visions will be driven by these prospects,” Chandrasekhar said.

“Sam Altman talked about how focus needs to be laid on AI. The government of India is focusing on supercomputer machines, and we need to have those for India's AI vision,” Chandrasekhar highlighted.

“AI will enable and empower us more,” Chandrasekhar said.

“AI has tremendous opportunities for digital economy and the government,” Chandrasekhar on the issue of how AI is going to disrupt jobs is a conservative approach to this.

“Our startups going bust is the nature of the business ecosystem. There is a certain risk aversion emerged amongst businessmen”

“AI is a hot prospect. Many semiconductor companies have become trillion dollar companies in that prospect. Our many startups are going bust because of running out of capital but that's normal. Due to implications of Russia-Ukraine war, the equity class has faced certain consequences,” Chandrasekhar mentioned around AI and related prospects.

In the context of Twitter, Chandrasekhar said there is an arbitrary use of power. Government is exercising regulations to curb this misuse of power.

“We have seen successes of Sundar Pichai, Satya Nadella, among others. India is an exciting nation for startups,” Chandrasekhar said.

“Digital leads India, and India leads digital. The digital economy is going to be a significant part. Certainly, India will lead digital in AI, consumer net, among others. India has a consumer tech, and is a leading nation around technology,” Chandrasekhar said.

“What is the future of AI? How do we deal with it? I think what we are doing is that we are shaping the guardrails and a framework on account of being the largest connected nation,” Chandrasekhar mentioned

“In India, we are a democratic country. With Twitter files for 2022-23, it shows an arbitrary misuse of power. This Twitter factor reinforces the need for guidelines,” Chandrasekhar stated.

Chandrasekhar talks about Jack Dorsey. He also talks about the need for Indian laws, and about Twitter controversy. “Certainly, what Dorsey has said is an outright lie,” he added

The first session of this event will be a keynote address, called “A Digital India.” It'll have Shri Rajeev Chandrasekhar, Union Minister of State for Electronics and Information Technology and Skill Development and Entrepreneurship, Government of India, who'll be in a conversation with Anant Goenka, Executive Director, The Indian Express.

The event is to begin shortly. Stay tuned!