Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), stated at the World Economic Forum in Davos that India is acknowledged as a major player in artificial intelligence (AI), supported by notable reforms, a strong digital public infrastructure, and a skilled workforce in technology.
Georgieva cited India’s abundance of IT expertise and its quick development of digital infrastructure as major advantages. Despite Union Minister Ashwini Vaishnaw’s denial of earlier remarks suggesting India is part of a “second grouping” of AI powers, she stated the IMF’s high appreciation for India’s economic reforms and acknowledged the nation’s great AI prospects.
Vaishnaw cited a Stanford study that placed India third in the world for AI readiness. According to Georgieva, AI has the potential to boost global growth by as much as 0.8 percentage points, with dynamic markets like India perhaps benefiting even more.
She called India a “bright spot” in the face of global economic uncertainty, lauded the country’s strategic approach to AI, and confirmed her impending visit for an AI summit. She emphasised the significance of solid economic foundations, which India’s policies demonstrate, and cautioned about exaggerated expectations surrounding AI that could result in setbacks if not satisfied.
