Last Update: April 12, 2023, 02:14 IST
Sitharaman addressed the luncheon meeting of the US-India Strategic and Partnership Forum. (Image: Ministry of Finance/Twitter)
Sitharaman made the remarks while addressing the luncheon meeting of the US-India Strategic and Partnership Forum
The Indian economy today is transparent, open and verifiable, Union Finance Minister Nirmala Sitharaman said on Tuesday, making a strong pitch to the American business community to come and invest in India and be a part of the country’s wonderful growth story.
Addressing the luncheon meeting of the US-India Strategic and Partnership Forum, Sitharaman told representatives of top US companies that these are the results of path-breaking and futuristic reforms, including digitization, being undertaken by the Prime Minister. Narendra Modi in the last nine years.
“Digitization has had a massive impact on the Indian economy, bringing in transparency,” Sitharaman said.
Earlier, about 40 per cent of the Indian economy was grey.
Today the government has incentivized many of these transactions, if it is digital, you get concessions and then people are onboarded to the digital system.
“Now, the Indian economy is not small, (it) is transparent, open, available if you want to use that word. With all these developments. So, in the budget for the next 25 years, we proposed that India should become an Artificial Intelligence hub,” she said.
The minister said, “We have proposed three centers of excellence in premier institutions like the Indian Institute of Technology, which will conduct research on artificial intelligence and use artificial intelligence to come up with tools that can make life easier for businesses or home owners.” Are.”
“Therefore, India wants to lead in the field of artificial intelligence. Besides, of course, hydrogen emoluments were announced in the last budget and in this budget, we have ensured that green hydrogen gets all the importance,” she told the American business community.
Referring to the Prime Minister’s vision to transform India into a developed economy in the next 25 years, Sitharaman said, the government has specifically identified the next 25 years as a march towards the hundred years of India being free from imperial rule. Is moving forward.
“So, by 2047, we expect India… to meet the aspirations of our youth… You are looking at a very high potential young, very skilled population that is going to contribute to India’s growth,” Sitharaman said.
“We are looking at a lot of measures and steps that will bring life back to life and revive the economy, which globally you see in every country is a reset… One, the ways in which the supply chain has been disrupted. The reason, you have a kind of disintegration for many reasons which came in some minds, not in every mind the way globalization has benefited itself but not benefited, benefited the majority,” she said.
“Whether it’s perception, it’s real, it’s a different story, but you have to globalize again with a more flexible working style and also bring the belief that capitalism and democracy together actually ended up with more poverty.” Has brought many people out of poverty and increased the livelihood of all,” Sitharaman said.
Sitharaman is leading a high-level delegation to Washington to attend the IMF and World Bank meetings.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
