India’s Pragmatic Approach to Trade and Innovation: Insights from Ashwini Vaishnaw
Mumbai: In a recent fireside chat at the Economic Times Awards for Corporate Excellence, Union Minister Ashwini Vaishnaw emphasized India’s pragmatic approach in prioritizing national interests over ideology in trade talks. He stated, “India will emerge stronger from these geopolitical shifts due to our pragmatic approach. We are not ideologically driven but focused on what is best for the country.”
Strengthening Trade Relations
On the prospective trade deal with the United States, Vaishnaw expressed optimism. He highlighted the complementary nature of trade relations, backed by a study of all Harmonized System (HS) code lines that revealed significant synergies. He encouraged industry leaders to invest in the development of 25-30 key products, particularly in sectors like mobile manufacturing.
Advancements in AI and Technology
Vaishnaw laid out an ambitious agenda across five key layers of AI: chips, foundational models, applications, data centers, and talent development. He announced plans for three indigenous AI models and a domestically developed GPU within the next few years. The launch of a 14,000-GPU common compute facility aims to democratize AI resources through public-private partnerships, ensuring inclusivity in technological advancements.
Reversal of Brain Drain and Startup Ecosystem Growth
Vaishnaw noted a positive trend in the reversal of brain drain, with professionals returning to lead initiatives in critical sectors like semiconductors. India is now among the top three startup nations, showcasing a thriving entrepreneurial spirit and innovation.
Commitment to Sustainability and Infrastructure
On climate protection, India has secured 4,000 megawatts of green power, with more in the pipeline. In railways, significant investments have led to a drastic reduction in accidents and enhanced technology integration for better maintenance and safety.
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