India promoting investment in frontier technologies: PM Modi
Jan 28, 2021
New Delhi [India], January 28 : India is promoting investment in frontier technologies including Artificial Intelligence, additive manufacturing and interdisciplinary cyber-physical systems, said Prime Minister Narendra Modi on Thursday.
Speaking at the World Economic Forum's Davos Dialogue via video conferencing, PM Modi said that the transactions at Unified Payments Interface (UPI) platforms have crossed 2 billion per month and a major portion of these transactions are taking place through the apps developed by private players.
"We believe in opening all the sectors for market participation. Take the example of UPI. Transactions at UPI platforms have crossed 2 billion per month. A major portion of these transactions are taking place through the apps developed by private players," he said.
He further said, "We are promoting the investment in frontier technologies like AI, additive manufacturing, and interdisciplinary cyber-physical systems."
Speaking on the infrastructure needs of the country, PM Modi said, "It is estimated that the infrastructure needs of the country would be around USD 4.5 trillion by 2040. I believe that the government and industry would have to achieve this goal in unison."
The government is continuously working towards providing a stable environment and all help, he highlighted.
The Prime Minister said that work is in progress for a strict law on data protection in the country. He reiterated that India has been fulfilling its global responsibility from the beginning in the tough conditions created by COVID-19.
He said India started the Vande Bharat mission to send people back to their homes during the COVID-19 pandemic when the airspace was closed in many countries.
"In these tough times, India has been undertaking its global responsibility from the beginning. When airspace was closed in many countries, India took more than one lakh citizens to other countries and delivered essential medicines to more than 150 countries," the Prime Minister said.
"India is saving the lives of people in many other countries of the world by sending COVID vaccines and developing the necessary infrastructure for vaccination," he added.
