NEW DELHI — In a clear show of its economic strength amid geo-political
uncertainties, India bagged investment commitments worth more than INR 20 lakh
crore at the annual World Economic Forum (WEF) summit in Davos this week.
Maharashtra managed to get the biggest pie of almost 80 per
cent investments proposals at the global event.
Led by Chief Minister Devendra Fadnavis, Maharashtra signed
at least 61 MoUs worth INR 15.7 lakh crore, with the potential to generate over
16 lakh jobs. Telangana delegation, led by CM Revanth Reddy, grabbed 20 MoUs
worth at least INR 1.80 lakh crore.
Kerala and Uttar Pradesh also showcased their ambitious
future plans and secured significant investment commitments.
Andhra Pradesh Chief Minister N. Chandrababu Naidu held
fruitful discussions with chief executive officers (CEOs) of various
globally-renowned companies and representatives of different nations. During
meetings with heads of different business houses, the Chief Minister explained
in detail the opportunities available in the state for making their
investments.
At the event, IT major Infosys also announced to expand its
presence in Hyderabad and create 17,000 jobs.
Union Railways and Electronics and IT Minister, Ashwini
Vaishnaw, highlighted India’s balanced approach to economic development with
both manufacturing and services driving the nation’s growth in his speech at
the World Economic Forum. He emphasised India's transformation from focusing
solely on import substitution to adopting a “Make in India, Make for the World”
approach.
Vaishnaw highlighted India’s ascent in the semiconductor and
AI sectors, stating that “most semiconductor industry leaders believe today
that India will soon join the top three destinations for semiconductors".
"With nearly 2,000 Global Capability Centers (GCCs)
working on advanced designs, India is poised to be a major player in global
manufacturing," he said at the WEF Summit.
He emphasised India's potential to become the "use case
capital" of the world, creating innovative applications for industries
globally. He noted that while AI models are becoming increasingly commoditised,
the focus should shift to developing use cases, applications, and solutions
that cater to global industries.
Vaishnaw also underscored the government's focus on skilling
to prepare India's workforce for emerging technologies, particularly in
artificial intelligence (AI).
