Tuesday November 19, 2019
Home India Modi takes st...

Modi takes stock of global economic turmoil with industry, economists

0
//

By NewsGram staff writer

New Delhi: As the global economy looks down the barrel of another impending slowdown, Indian Prime Minister Narendra Modi on Tuesday met union ministers, corporate heads and economists to discuss the turmoil in the global markets. The latest global turbulence has been sparked off by the Chinese economic slowdown and Modi has sought to discuss attendant opportunities for India.

325789-jaitley
Arun Jaitley

Among the ministers that were present at the meeting included Arun Jaitley (Finance) Suresh Prabhu (Railways), Nitin Gadkari (Road transport and Shipping), Nirmala Sitharaman (Commerce), Dharmendra Pradhan (Petroleum) and Piyush Goyal (Coal, Power and Renewable Energy).

RBI Governor Raghuram Rajan, Niti Aayog Vice Chairman Arvind Panagariya, Chief Economic Advisor Arvind Subramanian and Aayog member Bibek Debroy also attended the meeting on ‘Recent Global Events: Opportunities for India’.
Top officials at the meeting included Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chhib Duggal, Commerce Secretary Rita Teaotia and Industry Secretary Amitabh Kant.

Eight economists, 14 industry representatives and four major financial institutions, including State Bank of India

Chanda Kochar
Chanda Kochar

chief Arundhati Bhattacharya, ICICI Bank’s Chanda Kochar, IDFC’s Rajiv Lall and the CEO of the recently- launched Bandhan Bank Chandra Shekhar Ghosh were also present.
Apart from the heads of industry chambers, top industrialists such as Reliance Industries’ Mukesh Ambani, Aditya Birla Group head Kumar Mangalam Birla, Adani group chairman Gautam Adani, Tata group chief Cyrus Mistry, Wipro boss Azim Premji, Sun Pharma CMD Dilip Sanghvi, ITC’s YC Deveshwar and IL&FS chairman Ravi Parthasarathy also attended.
Public sector enterprises were represented by heavy equipment maker BHEL managing director B Prasada Rao and

BC Tripathi
BC Tripathi

gas utility GAIL chairman BC Tripathi.
Aditya Birla group chief economist Ajit Ranade, JP Morgan chief economist Jahangir Aziz and Morgan Stanley’s emerging markets head Ruchir Sharma were among the economists and market experts who attended the meeting.

(With inputs from IANS)

Next Story

Build Bridge between Artificial Intelligence, Human Intentions: PM Modi Urges Technocrats

Observing that there is a conspiracy to present technology as a challenge for India's demographic dividen

0
Modi, Human, AI
He said the emphasis should be on ways to upgrade skills as per the demand. "Let AI be just another aid, which is little more sophisticated," he said. Pixabay

Stressing integration and right balance between human and artificial intelligence (AI), Prime Minister Narendra Modi here on Sunday said the debate on AI should focus on bridging the gap between human intentions and AI, and not its likely negative impact.

Speaking at the launch of book ‘Bridgital Nation’, written by N. Chandrasekaran and Roopa Purushottam, Modi said, “The debate should not be on what are the dangers from AI, but how to bridge the gap between artificial intelligence and human intentions.”

He said the emphasis should be on ways to upgrade skills as per the demand. “Let AI be just another aid, which is little more sophisticated,” he said.

Observing that there is a conspiracy to present technology as a challenge for India’s demographic dividend, he said, “Human intentions and right intentions” were important for AI’s operations. Technology and talent were force multipliers, rather than a threat, he said. Technology was a bridge between aspirations and achievements, he added.

Modi, Human, AI
Speaking at the launch of book ‘Bridgital Nation’, written by N. Chandrasekaran and Roopa Purushottam, Modi said, “The debate should not be on what are the dangers from AI, but how to bridge the gap between artificial intelligence and human intentions.” Pixabay

The Prime Minister narrated how technology had been a key component of government schemes to reform, transform and perform. He mentioned about the use of data intelligence, digital mapping and real time monitoring in Ujjwala Yojana, which has transformed the lives of millions of women. He also talked about how technology had helped in empowering people through schemes, like Jan Dhan Yojana and Ayushman Bharat.

Modi said his government had used technology to remove silos among departments and build a bridge between supply and demand through innovative ideas, like the Government e-market Place (GeM). He explained how technology was used to create a robust startup system in the country, especially in tier 2 and 3 cities, which helped in development of a new ecosystem of startups.

Also Read- OnePlus 7T Pro McLaren Edition: Tiny Tweaks to Excellence!

On the need to convert challenges posed by technology into opportunities, Modi cited the example of creation of India Post Payment Bank. The disruption caused by technology to the entire postal organisation had converted it into a tech-intensive banking system, benefiting millions through postal bank, he added. (IANS)