Information technology and youth are India's two key resources, Prime Minister Narendra Modi said on Thursday, while allaying fears of job loss because of technological development, an economic site reported.
He said the ‘4th Industrial Revolution'will change the character of jobs and provide more opportunities, adding that his government was open to policy changes to help reap great things about the revolution.
At the launch of World Economic Forum's Centre for the Fourth Industrial Revolution, the Prime Minister said the launch in India — after San Francisco, Tokyo and Beijing — opens up doors to immense possibilities in the country.
"Our diversity, our demographic potential, fast-growing market size and digital infrastructure has potential to produce India a worldwide hub for research and implementation," he said.
While the previous industrial revolutions eluded the united states, India's contribution to the 4th Industrial Revolution will be astonishing, he said.
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, you'll be able to contact us in our own web-site. "India wasn't independent when the initial and second industrial revolution happened. When third industrial revolution happened, India was fighting challenges of just attained independence," he said.
Artificial intelligence, machine learning, Internet of Things, blockchain and big data hold potential to take India to new heights, the Prime Minister said. Reeling out the achievements of his government, Modi said teledensity has increased to 93 per cent and nearly 500 million Indians will have mobiles.
India is the biggest mobile data consuming country in the world and also the main one with the cheapest data rates, he explained, adding mobile data consumption has increased 30 times in 4 years.
Over 1.2 billion Indians have Aadhaar, he said, adding work to get in touch most of the 2,50,000 village panchayats with optic fibre will be completed soon. In 2014, only 59 panchayats were linked to optic fibre while the number now stands at 100,000, Modi said.
The World Economic Forum on Thursday announced its new Centre for the Fourth Industrial Revolution in India, which would aim to create together the us government and business leaders to pilot emerging technology policies.
Geneva-based WEF, which describes itself being an international organisation for public-private cooperation, said the newest centre works in collaboration with the us government on a national level.