Ashwini Vaishnaw at Davos 2025 outlined India’s vision of inclusive growth and ambitious goals for the future at the World Economic Forum.”India is setting its strategic direction on export-led growth, innovation in AI and emergence as a leader in semiconductor manufacturing, among other thrust areas,” Shri Vaishnaw said while speaking. It breaks down some of the takeaways from his speech and talks about how India is positioning itself as a world leader in both technology and industry.
India’s balanced approach to economic growth:
Shri Ashwini Vaishnaw started by saying that India has approached economic growth in a well-balanced manner. He said that both manufacturing and services are needed for the nation to grow. India is not choosing one against the other but tapping synergies between these sectors to have sustainable long-term growth. In this way, India remains competitive in a wide range of industries but encourages innovation and job opportunities.
Export-led growth strategy: “Make in India, Make for the World”
A large part of Shri Vaishnaw’s speech was devoted exclusively to India’s export-oriented growth policy. He pointed out how, from an import substitution model to an increasingly outward-looking approach, is the major growth driver nowadays in sectors as diverse as mobile phones to pharmaceuticals, chemicals, and garments. Significantly, 99 percent of all mobile phones used in India are now manufactured in India, which speaks for itself about how successful the above strategy has been.
This is not only an economic booster for India but also places the country at a strategic position as a key participant in global supply chains. In the face of growing demands by world markets for quality products, India stands ready to serve those demands well, especially given its fast-expanding manufacturing capabilities.
India as the “Use Case Capital” of the World
Most exciting idea Shri Vaishnaw has is making India “use case capital” of the world. He spoke about the possibility of Indian leadership in sectors and industries on the globe when new technologies emerge. The reason AI models seem to become normalized is because, unlike India, the country finds strength in producing custom solutions and applications for every business across the globe.
Already a global leader in IT services, India now has the same prospects of being world leaders in AI, as envisioned by Shri Vaishnaw. With its huge pool of skilled employees and technical infrastructure, India has a great potential to become one of the worlds guiding lights for innovating and putting AI into effective use.
Skilling and innovation in AI: The Future
Shri Vaishnaw said that India needed to skill its workforce to effectively employ AI and other state-of-the art advanced technologies. Under this target by the government to skill 1 million people, AI tools and techniques shall be skill and enabled for making people capable of developing real-time applications catering to global needs and demands.
The government is investing in some other key sectors apart from AI, including telecommunication and semiconductors. For instance, 100 universities in India are being provided with 5G labs to train the students for the needs of the telecom industry. Furthermore, advanced EDA tools are being implemented in 240 universities to train the next generation of semiconductor professionals. Such efforts ensure that India’s talent pool is ready for the future technological challenges.
India Semiconductor and AI Leadership
India is leading and growing more prominently as a semiconductor and AI manufacturer worldwide. Shri Vaishnaw predicted the growth rate by which semiconductor would be counted to be number three in terms of manufacturing of semiconductor worldwide. It indeed a very pivotal mile stone from Indian side who attract massive amount investment in semiconductor sector and AI both simultaneously.
India’s competitive strength comes in a bundle of highly skilled talent, affordable labor, and advanced design capabilities. India is fast emerging as a leader in global manufacturing and innovation; nearly 2,000 Global Capability Centers (GCCs) work on cutting-edge designs.
Why Global Companies Are Flocking to India
The Union Minister elaborated factors that make India an attractive destination for global companies. There are many reasons for it. First, there is ample talent; then, a very trustable business environment, and last but not the least world-class design capabilities are pulling companies to set up operations in the country. And this leadership has played a huge role in building global trust to shift their supply chains and value chains to India.
India’s sound infrastructure and its human capabilities provide a prime destination in the country for manufacturing and R&D. It will establish a solid footing for companies seeking to innovate and expand in the global market.
Conclusion
Shri Ashwini Vaishnaw did vividly project the future of India as a leader in the technology and industrial space during his speech at Davos. With a focus on export-led growth, AI innovation, and semiconductor manufacturing, India is all set to become a powerhouse on the world stage. India is positioning itself as a hub for the industries of tomorrow by investing in skilling its workforce and fostering innovation. The country is, in essence, on its way to achieve the vision for inclusive development and sustainable economic growth as more global companies come to India.
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