India’s Prime Minister Advocates for a Global Framework on Ethical AI Usage
Prime Minister Narendra Modi emphasized India’s commitment to democratic values and technological inclusivity during his address at the Global Fintech Fest in Mumbai. Speaking alongside UK Prime Minister Keir Starmer, Modi highlighted how India’s digital innovations are setting a global standard, particularly for the Global South. He underscored the importance of technology in promoting equality and empowerment, asserting that India’s fintech landscape is gaining international recognition.
India’s Digital Transformation
During his speech, PM Modi described India’s digital landscape as a model for inclusivity. He stated that the country has democratized technology, making it accessible to all citizens across various regions. This transformation has turned banking from a privilege into a tool for empowerment, facilitated by initiatives like the JAM trinity—Jan Dhan, Aadhaar, and mobile technology. Modi noted that the Unified Payments Interface (UPI) alone processes around twenty billion transactions monthly, with a total transaction value exceeding twenty-five lakh crore rupees. This significant growth in digital transactions showcases how technology has reshaped the financial ecosystem in India.
Global Collaboration and Ethical AI
Modi also highlighted the collaborative efforts between India and the UK, referring to their partnership as a means to strengthen the global financial landscape. He expressed gratitude for PM Starmer’s presence and emphasized the importance of cooperation between two major democracies. The Prime Minister reiterated India’s commitment to a global framework for ethical artificial intelligence, focusing on equitable access and responsible deployment. He asserted that India’s AI strategy aims to empower its population through skill development and inclusive access to technology.
Technological Empowerment Beyond Borders
In his address, PM Modi articulated that India is not only sharing its technological advancements but also assisting other nations in developing their own digital capabilities. He characterized this initiative as “digital empowerment” rather than mere aid. By extending its technological expertise, India aims to foster a more inclusive global digital economy. The Prime Minister’s remarks reflect a broader vision of using technology as a means to bridge gaps and promote equality among nations.
Highlighting India’s Digital Public Infrastructure
PM Modi concluded his address by showcasing India’s robust digital public infrastructure, which includes various systems such as the Aadhaar-enabled payment system, Bharat Bill Payment System, Bharat-QR, DigiLocker, DigiYatra, Government e-Marketplace (GeM), Open Network for Digital Commerce (ONDC), and the Open Credit Enablement Network (OCEN). These initiatives are designed to enhance financial inclusion and streamline services for citizens. By leveraging these digital tools, India aims to create a more efficient and accessible financial ecosystem for all.
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