Highlighting India’s growing global stature, Union Minister Ashwini Vaishnaw at the sidelines of the World Economic Forum (WEF) in Davos on Wednesday said there is now a suggestion that India should host a World Economic Forum-style event.
“There is a suggestion that now the time has come when we should be having a World Economic Forum in India. So, that idea has also come – a kind of Autumn Davos in India. This is a new idea which has come, which basically shows the recognition of our country, of our economy,” he said.
The minister said people see India as the fastest growing major economy, with inflation under control and a very healthy balance sheet of the government, very low debt in the economy.
“People understand the reforms which our Prime Minister Modi has flagged off. People really appreciate the reforms in GST, the opening up of the nuclear sector. So many reforms which are happening, practically, in every sector – people recognise that. The investment momentum is very strong,” he said.
Further, in a separate panel discussion, the minister also outlined India’s approach to Artificial Intelligence, emphasising large-scale AI diffusion, economic viability, and techno-legal governance.
Addressing a question on global AI alignments and geopolitics, the Minister stated that India clearly belongs in the first group of AI nations.
He noted that AI architecture comprises five layers — application, model, chip, infrastructure, and energy; and India is actively working across all five.
“At the application layer, India will probably be the biggest supplier of services to the world,” he said, adding that return on investment (ROI) in AI comes from enterprise-level deployment and productivity gains, not from creating very large models alone.
He observed that nearly 95 per cent of AI use cases can be addressed with models in the 20–50 billion parameter range, many of which India already has and is deploying across sectors.