India Emerges as a Leading Global Economy and Startup Hub: WEF Insights
Click to start listening
Synopsis
A recent WEF report highlights India's rapid growth as an economy and its emergence as a global startup hub, driven by technological innovation and collaborative initiatives aimed at improving the quality of life for millions.
Key Takeaways
- India is identified as a leading global economy.
- It serves as a hub for startups and digital innovation.
- The C4IR India initiative aims to drive the adoption of emerging technologies.
- Over 1.25 million lives have been improved through collaborative efforts.
- Future focus includes AI, climate tech, and space tech.
New Delhi, Jan 20 (NationPress) India is recognized as one of the globe's fastest-growing economies and a prominent center for startups and digital innovation, according to a report released by the World Economic Forum (WEF) on Monday.
The report, introduced by the Centre for the Fourth Industrial Revolution (C4IR) India, the WEF's liaison office in India, highlights that the country’s commitment to developmental frameworks where technology acts as a facilitator rather than an obstacle is extremely pertinent. The Forum is honored to partner in fostering a more human-centric, sustainable, and resilient future.
Established in October 2018 by Prime Minister Narendra Modi, C4IR India aims to accelerate the adoption and responsible use of emerging technologies within the country.
This collaboration, coordinated by the NITI Aayog, marks the launch of a center that is part of WEF's global network focused on the Fourth Industrial Revolution.
“In the past six years, C4IR India has become a vital hub for multistakeholder cooperation and has positively impacted the lives of 1.25 million citizens by enhancing livelihoods and improving healthcare access,” stated Jeremy Jurgens, Managing Director of WEF.
The center has promoted Fourth Industrial Revolution technologies across sectors such as agriculture, health, and aviation, setting standards for transformative advancements.
“As C4IR India continues to grow, its focus is shifting towards innovative domains like AI, climate technology, and space technology, holding great promise for generating lasting societal value,” Jurgens added.
C4IR India aims to impact 10 million citizens by scaling its flagship initiatives, including the ‘AI for India 2030’ initiative to harness AI's power for public good; the ‘Space Economy’ initiative to establish India as a leader in space tech; and the ‘Climate Technology’ program aimed at creating climate-smart urban environments.
As noted by S. Krishnan, Secretary of MeitY, “Our collaboration with C4IR India centers on building a multistakeholder community to utilize Fourth Industrial Revolution technologies for addressing critical challenges in health, education, smart cities, and agriculture.”
“AI for India 2030 is a key initiative in partnership with MeitY, enabling industry and startup stakeholders to collaborate with the government to unlock AI’s potential,” he added.
