North News
New Delhi, January 24
Union Minister Ashwini Vaishnaw highlighted India’s inclusive development agenda and global leadership ambitions during his address to world leaders and industry captains at the World Economic Forum in Davos. He emphasized India’s balanced economic growth strategy, which integrates both manufacturing and services as key drivers of development. “It cannot be manufacturing or services; it has to be both. Together, they form the backbone of India’s economic trajectory,” Vaishnaw said.
The minister outlined India’s shift toward an export-led growth model under the “Make in India, Make for the World” initiative. He pointed to significant achievements, such as the local manufacturing of 99% of mobile phones used domestically, and highlighted similar progress in sectors like pharmaceuticals, chemicals, and garments.
Vaishnaw also positioned India as a global leader in artificial intelligence (AI) innovation, calling it the “use case capital of the world.” He stressed the country’s potential to develop applications that meet global industry needs, much like its success in IT services. He revealed plans to train 1 million people in AI tools and skills to create solutions for global markets, underscoring the government’s commitment to building a future-ready workforce.
Efforts to align education with industry requirements were also discussed, including initiatives such as setting up 5G labs in 100 universities and providing advanced semiconductor design tools in 240 institutions. These measures aim to prepare India’s talent pool for emerging technologies and ensure a skilled workforce across all levels of the value chain.
India’s ascent in semiconductor manufacturing was another key highlight. Vaishnaw noted that the country is set to become one of the top three global destinations for semiconductors, thanks to its abundant talent, trust, and design capabilities. He credited the leadership of Prime Minister Narendra Modi for creating an environment of global trust and collaboration, which has encouraged multinational companies to move not only their supply chains but also their value chains to India.
With nearly 2,000 Global Capability Centers contributing to advanced designs and innovation, Vaishnaw reaffirmed India’s position as a rising global manufacturing and talent hub. “India’s leadership has fostered an environment of trust, talent, and global collaboration,” he said, emphasizing the nation’s readiness to play a pivotal role on the world stage.
