Government and IT Leaders Bet on AI as India's Next Growth Engine

Prime Minister Narendra Modi, speaking shortly before Nilekani, underscored India’s robust foreign‑exchange reserves exceeding $700 billion and a banking system stronger than many peers. He linked these macro‑economic strengths to the nation’s capacity to invest in cutting‑edge technologies such as artificial intelligence.

Modi recalled India’s humanitarian contribution during the COVID‑19 pandemic, when more than 100 countries received vaccine doses manufactured in Indian facilities. He used that example to illustrate how domestic production capabilities can serve global needs.

The Prime Minister also praised the AI Impact Summit hosted by India a few months earlier, noting its focus not only on human‑centric AI applications but also on leveraging AI for animal welfare.

“Today, innovation reaches far more people than ever before,” Modi said, citing how affordable mobile data has enabled students in tier‑2 towns to attend digital classes, shop owners in villages to access new markets, and youth to acquire skills through online platforms. The digital connectivity, he argued, is the backbone of India’s development model and will accelerate AI‑driven growth.