Talking about a united India face at Davos this time, the senior minister said, “Prime Minister Narendra Modi had told us clearly that the Indian pavilion this time in Davos should integrate all states. That has sent a very good signal this time for a unified image of the country. Leaders from 5-6 different parties came together on one stage,” he added.

Vaishnaw said people across the world now understand how India could stay on a sustained growth path when many other countries went deep under debt.

On misinformation and mistrust emerging as biggest threats globally as identified by the World Economic Forum and challenges posed by AI, he said we will definitely need to take necessary safeguards but the opportunities presented by AI are also huge and they must be tapped responsibly.

“The way India has proved its mettle in IT services, a similar opportunity is there in terms of AI. For that we need to prepare our youth.

“Like we started 5G labs in 100 universities for telecom and the way we equipped 250 universities with latest semiconductor design tools, the same we are starting AI-ready courses in 200 universities to prepare our youth to ensure leadership position for India in the AI space,” he said.

Asked about new regulations for AI, Vaishnaw said there must be a balance between regulation and innovation so that both can move together.

Speaking during a panel discussion in Davos, Vaishnaw said that India will comfortably maintain a 6-8 per cent economic growth rate while keeping inflation under check in the years to come. He also said that simplification of tariffs and customs laws are among key focus areas for his government to boost exports.

Vaishnaw said the talent available in India is unmatched across sectors and the world today trusts India because of its policies. Companies are shifting their factories and value chains to India, he added.

Vaishnaw said the simplification of tariffs and customs laws are among the key focus areas of the government, and export-led growth can be a key differentiator.-Agencies