In a recent interview with IANS, Sandip Patel, Managing Director of IBM India and South Asia, highlighted Prime Minister Narendra Modi's ambitious vision for India, centered on frontier technologies like artificial intelligence (AI), semiconductors, and quantum computing. Patel believes this vision will propel the nation towards becoming 'Viksit Bharat' (Developed India) by 2047.

Patel emphasized that the current investment momentum, combined with favorable government policies, underscores PM Modi’s commitment to positioning India as a global AI hub. He stated, "India is already way ahead in adopting and using AI across businesses. If we can further skill our massive human capital in AI, it will make us the AI capital of the world".

During his recent visit to the United States, PM Modi met with leading figures in technology and biosciences, including Arvind Krishna, CEO of IBM. In these discussions, Modi reaffirmed his commitment to making India a global hub for semiconductor manufacturing and a powerhouse in biotechnology, promoting an AI strategy that emphasizes ethical and responsible usage.

According to Patel, the key to building safe and responsible AI lies in ensuring that data and insights generated from AI are owned by their creators while maintaining a bias-free framework. He noted the importance of regulation and responsible deployment in achieving this goal. "We are continuing to innovate in India, for India, and for the world, and we will scale our growth trajectory in the country", Patel added.

As India’s capital markets undergo significant transformations, the role of AI in enhancing investment solutions is becoming increasingly vital. With the global surge in AI and generative AI adoption, India is poised to play a crucial role in leveraging these technologies to accelerate social and economic progress.

PM Modi has urged companies to seize the opportunities presented by India's growth story, encouraging them to co-develop, co-design, and co-produce in India for global markets. This collaborative approach aims to harness the potential arising from India's burgeoning economic and technological landscape.