The Prime Minister of India recently presented the keynote at the inaugural Sydney Dialogue via video conferencing, using this platform to discuss the progression and revolution of technology in India.
Addressing Cryptocurrency Concerns
During his address, the Prime Minister highlighted the importance of international order in ensuring that cryptocurrencies do not find their way into the wrong hands. In response to the unregulated nature of the crypto market, the PM urged for progressive and forward-thinking steps to be taken.
Opening Up Space and Agriculture to Digitalization
The PM also mentioned that India’s space sector is receiving private investment, and the agriculture sector is starting to experience the benefits of the digital revolution. In 2020, the Indian National Space Promotion and Authorization Centre (IN-SPACe) was launched, aimed at providing equal opportunities for private companies to utilize Indian space infrastructure.
Tracing Digital Revolution in India
The keynote went on to discuss the strides made in India’s digital revolution, impacting the country’s politics, economy, and society. However, the new digital age has presented many challenges including sovereignty, governance, ethics, law, rights, and security.
Five Key Technological Shifts in India
The Prime Minister listed five crucial transitions in India:
1. The construction of the world’s most extensive public information infrastructure. Over 1.3 billion Indians own a unique digital identity (Aadhaar), six hundred thousand villages will soon be connected to broadband, and the Unified Payments Interface (UPI) stands as the world’s most efficient payment infrastructure.
2. The increasing use of digital technology for governance, inclusion, empowerment, connectivity, delivery of benefits and welfare. Programs like Pradhan Mantri Jan-Dhan Yojana (PMJDY) and Common Services Centres (CSC) are prime examples.
3. India holds the world’s third largest and fastest-growing startup ecosystem.
4. Massive digital transformation is being witnessed across various sectors, including industry, service, and even agriculture. Government e-Marketplace (GeM), agri-startups, etc., serve as examples.
5. Extensive efforts are being made to prepare India for the future in areas like 5G and 6G telecom technology, artificial intelligence, machine learning, and cloud computing platforms.
Sydney Dialogue and Other Initiatives
The Sydney Dialogue, an initiative of the Australian Strategic Policy Institute, aims to discuss the impact of the digital domain on global law and order. Similar initiatives include the Eastern Economic Forum (EEF) and Future Investment Initiative (FII). The EEF, established in 2015 by the President of the Russian Federation, provides a platform to discuss global economic challenges and new industrial technologies. Meanwhile, the FII, also known as ‘Davos in the desert,’ is Saudi Arabia’s flagship investment conference. It enables world leaders to dialogue on pressing international issues.