IMF: AI can supercharge India’s growth
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New Delhi: India is emerging as one of the world’s major forces in artificial intelligence (AI), supported by strong reforms, digital public infrastructure, and a skilled technology workforce, said Kristalina Georgieva, Managing Director of the International Monetary Fund, at the World Economic Forum in Davos. The IMF MD pointed to India’s rapidly built digital public infrastructure and deep pool of IT skilled labour as major strengths. Georgieva said the IMF holds India in high regard for the pace and quality of its recent economic reforms.
When asked about comments by Union Electronics and Information Technology minister Ashwini Vaishnaw, Georgieva said that the Fund believes India’s prospects in AI are “remarkable”. Vaishnaw had recently pushed back strongly against remarks by Georgieva that India is in a “second grouping” of AI powers. Georgieva noted that the IMF’s assessment showed AI could boost global growth by up to 0.8 percentage points and that dynamic economies like India stand to gain even more.
