Amitabh Kant on India’s Growth: Manufacturing, Reskilling, and Semiconductors
In New Delhi, India’s G20 Sherpa and former Niti Aayog CEO, Amitabh Kant, emphasized the importance of reskilling the workforce for India’s growth. Speaking at the NDTV World Summit 2024, Kant stated that India cannot rely solely on services and must boost its manufacturing sector, which currently contributes 17.5% to the GDP, aiming to increase it to 25%. He highlighted the need for urbanization as 500 million people are expected to urbanize in the next five decades.
Kant outlined the challenge of growing India’s GDP from USD 4 trillion to USD 30 trillion, stressing the need for India to become a key player in global value chains and increase exports. He also addressed concerns about dependency on foreign semiconductors, noting the government’s initiative to establish India as a semiconductor hub, with five approved units and significant investments.
Furthermore, Kant discussed the inevitable rise of Artificial Intelligence (AI), advocating for its use in creating a better society and improving human development, rather than just developing Large Language Models (LLMs). He reiterated India’s commitment to deploying emerging technologies in a “safe and trusted” manner.
Doubts Revealed
Amitabh Kant -: Amitabh Kant is an important person in India who helps with big international meetings and plans, like the G20. He works on making India better by focusing on things like manufacturing and technology.
G20 Sherpa -: A G20 Sherpa is a person who helps prepare for meetings of the G20, a group of 20 important countries that discuss global issues. The Sherpa makes sure everything is ready for the leaders to talk about important topics.
Reskilling -: Reskilling means learning new skills or improving old ones to do a different job or work better in your current job. It’s important because jobs and technology keep changing, and people need to keep up.
GDP -: GDP stands for Gross Domestic Product, which is the total value of all goods and services produced in a country. It’s a way to measure how big and strong a country’s economy is.
Semiconductors -: Semiconductors are tiny parts used in electronic devices like computers and phones. They help control electricity and are very important for making technology work.
Global value chain -: A global value chain is a way of making products where different parts are made in different countries. It helps countries work together to make things more efficiently and sell them around the world.
AI -: AI stands for Artificial Intelligence, which is when computers and machines are made to think and learn like humans. AI can help make life easier by doing tasks faster and more accurately.
