Artificial Intelligence (AI) is poised to revolutionize the Indian IT sector, propelling it to new heights in global services, asserted Prakash Jain, the Executive Chairman of Inspira Enterprise India Ltd, during his address at the Lokmat Global Economic Convention in Singapore on Thursday. Jain emphasized that AI would constitute the most significant transformation within the Indian IT sector. He highlighted that the sector had exported services worth USD 270 billion the previous year, attributing this success to robust government backing for technological industries, which has streamlined business operations in India.
Speaking at a panel discussion titled “Taking India to the pinnacle of World economy – A Road Map,” Jain underscored India’s increasingly educated and skilled workforce, particularly in cutting-edge technologies. He emphasized that providing the right skills to people also unlocks numerous opportunities. Jain’s cyber security company, with offices in Mumbai, Delhi, Dubai (UAE), Dallas (US), and Manila (The Philippines), is engaged in big data analytics, AI, and cybersecurity. Jain commended the rapid digitalization in India, citing advancements in technology and manufacturing that enabled tech giant Apple to export mobile phones worth Rs 1 trillion in the last 12 months.
He projected a potential increase in Apple exports to Rs 5 trillion in the upcoming year, fueled by India’s semiconductor companies venturing into chip-based manufacturing for advanced technologies. Vishal Chordia, Director of Suhana Pravin Masalewala, echoed Jain’s sentiments, asserting that AI would permeate every aspect of life. Chordia dismissed concerns about AI eliminating jobs, predicting that AI implementation would empower workers with comprehensive knowledge and information. Expounding on India’s economic progress, Chordia highlighted the global promotion of millets as a healthy food option since its introduction on the international stage last year. India proposed the International Year of Millets (IYM) 2023, which was accepted by the United Nations General Assembly (UNGA).
The government has been at the forefront of celebrating IYM, according to the Ministry of Agriculture & Farmers Welfare. Chordia emphasized the joint efforts of brands and the government in promoting millets by disseminating information about healthy foods. He cited the increased awareness leading to greater consumption of millets globally, positioning millet as a staple food choice. Chordia noted that young Indians are increasingly health-conscious, considering dietary preferences while selecting food, making millets a preferred food option in the coming years. Regarding the prospects of the food industry in India, he mentioned that his company, Suhana Pravin, is experiencing an annual growth rate of 26-30 per cent.
Jain commended India’s accelerated pace of digitalization, citing advancements in technology and manufacturing that enabled tech giant Apple to export mobile phones worth Rs 1 trillion over the past year. He also highlighted the potential for further growth in Apple exports, particularly as India’s semiconductor companies venture into chip-based manufacturing for advanced technologies. During a panel discussion themed “Taking India to the pinnacle of World economy – A Road Map,” Jain underscored India’s growing pool of educated and skilled workforce capable of driving innovation in top-tier technologies. He emphasized that empowering people with the right skills also brings forth numerous opportunities. Jain’s cybersecurity company, operating from key locations such as Mumbai, Delhi, Dubai (UAE), Dallas (US), and Manila (The Philippines), specializes in big data analytics, AI, and cybersecurity. Vishal Chordia, Director of Suhana Pravin Masalewala, echoed Jain’s sentiments, asserting that AI would become ubiquitous in people’s lives in various forms. Dismissing concerns about AI’s job displacement effects, Chordia predicted that AI implementation would equip workers with comprehensive knowledge and empower them.
Expanding on India’s economic progress, Chordia emphasized the global promotion of millets as a healthy food option since its international debut last year. India’s proposal for the International Year of Millets (IYM) 2023, accepted by the United Nations General Assembly (UNGA), has played a pivotal role in raising awareness globally, as acknowledged by the Ministry of Agriculture & Farmers Welfare. At a global economic convention held here on Thursday, a senior official from a cybersecurity firm expressed confidence that Artificial Intelligence (AI) would propel the Indian IT sector to new heights in global services. Prakash Jain, the Executive Chairman of Inspira Enterprise India Ltd, emphasized the transformative potential of AI within the Indian IT landscape.
Speaking at the Lokmat Global Economic Convention in Singapore, Jain highlighted the substantial contributions of the Indian IT sector, noting its USD 270 billion worth of service exports in the previous year. He attributed this success to robust government backing for the technology sector, which has significantly eased business operations in India. Chordia highlighted collaborative efforts between brands and the government in promoting millets by disseminating information about healthy foods. He anticipated that increased awareness would drive higher consumption of millets globally, positioning them as a staple food choice.
Additionally, Chordia noted the growing health consciousness among young Indians, who prioritize nutritional factors when choosing food, making millets a preferred option in the years to come. Regarding the food industry outlook in India, he mentioned that his company, Suhana Pravin, is experiencing robust annual growth ranging from 26% to 30%.