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Improved governance can fuel India to be top growth nation: IBM

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New Delhi: India, with improved governance and strong social and physical infrastructure, can become the world’s highest growth nation in the 21st century, revealed an IBM study.

IBM India managing director Vanitha Narayanan released the report “Indian Century: Defining India’s Place in a Rapidly Changing Global Economy” here on Thursday

India is witnessing a transformation that promises to minimise constraints and support economic advancement. The build out of social and digital infrastructure, powered by local innovations, will help India become an integral part of the global ecosystem,

The IBM Institute for Business Value predicted how India could become the world’s highest growth nation in the 21st century.

The study is based on interviews with 1,088 Indian executives across large enterprises (73 percent), start-ups (11 percent), academia (5 percent) and government (11 percent) to get their perspective on opportunities and roadblocks for the Indian economy.

Nearly 51 percent of the Indian executives highlighted improved governance as a key driver for sustainable growth, while social (46 percent) and physical (45 percent) infrastructure were ranked important growth drivers on second and third spots respectively.

Nearly 43 percent executives placed access to capital on the fourth spot and said this key factor has been a hindrance in sustainable growth.

About 40 percent executives backed availability of skilled resources as the fifth key driver to bring sustainable growth in India,

According to the study, India benefits from entrepreneurialism and diversity and is currently ranking as the fourth-largest source of technology start-ups globally.

“A young population equipped with the right skills and growing middle class will reinforce economic activity through increased consumption and investment,” it highlighted, noting that by 2020, India will constitute 30 percent of the world’s workforce and by 2030, the nation is projected to have the largest middle-class population in the world.

Narayanan, in her speech, also emphasised over India’s potential and growth perspective.

The study rightly points out that India has immense potential to leapfrog traditional growth paradigms. If we are able to capitalise on the opportunities present in front of us, the next decade can definitely mark the beginning of the Indian Century,

Based on unique advantages that India has and the recognition that economic transformation is essential for India’s long-term well-being, the country is already on the path of economic advancement, said the study. (IANS)

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A Data Project To Predict Human Trafficking Before It Occurs By Corporate Giants

Along with IBM and Western Union, participants include Europol, Europe's law enforcement agency is also included

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Human Trafficking
People protesting against human trafficking and slavery raise their fists during a demonstration in Mexico City. VOA

Computer giant IBM Corp., financial services company Western Union
Co. and European police launched a project Thursday to share financial data that they said may one day be able to predict human trafficking before it occurs.

The shared data hub will collect information on money moving around the world and compare it with known ways that traffickers move their illicit gains, highlighting red flags signaling potential trafficking, organizers said.

“We will build and aggregate that material, using IBM tools, into an understanding of hot spots and routes and trends,” said Neil Giles, a director at global anti-slavery group Stop the Traffik, which is participating in the project.

Human Trafficking
Ethnic Uighur Muslim boy stands inside a police van in Khlong Hoi Khong of southern Songkhla province, Thailand. He was in a group of 200 people rescued from a human trafficking camp. VOA

Data collection, digital tools and modern technology are the latest weapons in the fight against human trafficking, estimated to be a $150 billion-a-year global business, according to the International Labor Organization.

The U.N. has set a goal of 2030 for ending forced labor and modern slavery worldwide, with more than 40 million people estimated to be enslaved around the world.

Certain patterns and suspicious activity might trigger a block of a transaction or an investigation into possible forced labor or sex slavery, organizers said.

The project will utilize IBM’s internet cloud services as well as artificial intelligence and machine learning to compare data and to spot specific trafficking terms, said Sophia Tu, director of IBM Corporate Citizenship.

Human Trafficking
The project will utilize IBM’s internet cloud services

With a large volume of high-quality data, the hub one day may predict trafficking before it happens, she told the Thomson Reuters Foundation.

“You can’t do it today because we’re in the process of building out that amount of data and those capabilities, but it’s in the road map for what we want to do,” she said.

While law enforcement is teaming up with banks and data specialists to chase trafficking, experts have cautioned that it can be a cat-and-mouse game in which traffickers quickly move on to new tactics to elude capture.

Also Read: USA And Other Countries Pledge To Eradicate Illegal Wildlife Trade

Also, less than 1 percent of the estimated $1.5 trillion-plus laundered by criminals worldwide each year through the financial system is frozen or confiscated, according to the U.N. Office on Drugs and Crime.

Along with IBM and Western Union, participants include Europol, Europe’s law enforcement agency; telecommunications giant Liberty Global; and British banks Barclays and Lloyds, organizers said. (VOA)