PM Modi's AI Mission is a right step for making India a global hub for Artificial Intelligence, says US business leaders in Stanford University

PRNewswire
Stanford (California) [US]/ Chandigarh [India], April 27: Indian Diaspora, Indian origin business leaders and international experts from diverse backgrounds, including Chief executive officers, managing directors, academicians, health and AI experts from IT companies hailed Prime Minister Narendra Modi's leadership for making India a global hub for Artificial Intelligence (AI) at "Indiaspora AI Summit", organised at Stanford University, USA. Besides Ambassador of the United States of America to the Republic of India, Eric Garcetti and Member of Parliament (Rajya Sabha) & Chancellor Chandigarh University, Satnam Singh Sandhu, CEOs, Technocrats, Researchers, Academicians attended the AI Summit at Stanford University in large numbers.
At the Summit, Indian Diaspora and Indian Origin business leaders from IT and other sectors said PM Modi is shaping India's future by using AI in making nation's strategy for a Viksit Bharat by 2047. They said tech-savvy PM Modi understands transformative power of artificial intelligence (AI) and is promoting AI applications in sectors like agriculture, health-care, and education to take full advantage of the capabilities of AI for social development and inclusive growth.
A Research Paper, "Navigating The Nexus: Unravelling Critiques and Focal Axes of Business Index Constructs", authored by Dr Martin Dahl, faculty of Department of Economics and Management, Lazarski University (Poland) and co-authored by Bob Sidhu and Tejas Dhami was presented during the summit. It ccondemned India's agenda-based rating by Western agencies and lambasted bias against the fastest growing economy in global business indexes. The Research Paper focused on studying the methodology, data collection technique used and other parameters used in calculating the Ease of Doing Business Index which is done every year by World Bank.
Presenting the Research Paper along with Tejas Dhami at the Summit, Chief Global Services at Iron Systems, Bob Sidhu said key findings of this research is that there is issue of faulty and biased rankings affecting business performances and suggest impartiality in improving the global business indexes with transparency.
"Starting with Ease of Doing Business, it's done by the World Bank on the basis of 10 parameters for 190 countries. On the basis of policies and progress, the performance of India which is one of the top emerging economies of the World should have been positioned better in comparison to other nations which otherwise don't have good infrastructure and policies to welcome new businesses. The rankings released by World Bank in 2020 showed that India ranked at 63 which is lower than the countries like Kenya which is ranked 56, Rawanda which is ranked 38 and Kosovo which is ranked 57 even as India leads these countries in matrix such as getting electricity, protecting minority investors, starting a business and trading across borders. India leads these countries in four of the parameters yet India is ranked 63 below these countries which is an evidence of the manipulation done. The criticism and further research on this topic shows that there is problem with data and there is lack of transparency. One of the major problem on Ease of Doing Business Index is that all type of businesses are not covered. These are one of the many other things," Sidhu said.
He said Indian initiatives for improving Ease of Doing Business include remarkable reduction in registration fee and security deposit for electricity connection; and strengthened measures for protecting minority investors in 2015.
"The need for minimum capital and certificate of commencement of business was removed in 2016. Reforms of 2017 were connected with cheaper and faster commercial electricity, electronic tax payments; and removed complications in cross border trade by digitalization. Reforms of 2017 also include reforms for better contract enforcements. PAN and TAN linkage, reduction of import border compliance, are major reforms of 2018. GST implementation, introduction of general incorporation form are major attractions of 2019," Sidhu citing wrong methodologies, bias, manipulations, and hidden agendas in the global business rankings for India which, he said, destroy the purpose and credibility of global business indexes.
Tejas Dhami, Stanford graduate and research fellow, said, "In this Research Paper, we have come to the conclusion that India has been misrepresented in the Ease of Doing Business Index and Logistics Performance Index. In Ease of Business Index, India is ranked below countries like Kenya, Kosovo and Rwanda. And the reason for this are data manipulations and data irregularities. India leads these countries in multiple factors like registering of property, credit availability, and protection of minority interest. In these Logistics Performance Index, India leads countries like Qatar and Latvia. But despite this, India is behind those countries on the basis of rankings. India leads those countries in international shipment score and timeliness score. We feel this data needs to be revised and the indexes need to match the actual representation of these countries,".
Dhami cited faulty methodology, hidden agenda, Western bias, data irregularity, manipulation and trust issues, data uniformity issues, monopoly, limited data, reliability issue of data instruments, bias and subjective views as reasons for skewed ratings of India in Global Indices influenced by Western World.
"The Logistics Performance Index 2023 ranking was for 139 countries. Six indicators are tracked for calculating the Logistics Performance Index. These indicators are customs, quality of infrastructure, easiness in arranging shipping services, quality of logistics services, consignment monitoring, and punctuality of shipments. Singapore and Finland lead in this index. However, countries like Latvia is ranked 35, Qatar is ranked 36 and Thailand is ranked 37 ahead of India ranked 38 in this Index. The challenges of bias and agenda-based ranking can be the reason for such performance. The analysis of performance of Latvia, Qatar, and Thailand, in comparison with India shows that India outperforms these countries in international shipment score and timeliness score; and has almost at par performance in tracking and tracing score. However, India is well behind these countries in the Logistics Performance Index ranking. India's low ranking in Global Logistics index by Western agencies smacks of bias and reflective of agenda aimed at discrediting the progress been made in recent years. In comparing quite relatively equally on customs scores, infrastructure scores and logistic competence, the data seems to have shown evidence that there is lack of consistency and lack of transparency which needs to be addressed for it to be viable as these indexes can prove harmful for further investment growth in India or else there could be ramifications," he added.
Satnam Singh Sandhu, Member of Parliament (Rajya Sabha) & Chancellor Chandigarh University, said, "Ever since Prime Minister Narendra Modi came into power in 2014, great focus has been laid on the usage of Technology to ensure progress and prosperity in the country. Furthermore, he has emphasized on shaping India's future through integration of Artificial Intelligence (AI) in the nation's strategic vision of Viksit Bharat by 2047. Recognizing AI's transformative potential, PM Modi is promoting its application in sectors like agriculture, healthcare, and education for social progress and inclusive growth."
While highlighting India's remarkable economic progress under PM Modi's leadership, he added, "India has jumped from being world's 10th largest economy in 2014 to 5th largest economy in just 10 years. This development of India has impacted every section of the society. Over the past decade, 250 million people moved out of poverty, who now have access to essential amenities like clean drinking water, electricity connection, toilet facility, LPG cylinders for cooking, and quality healthcare. This is what is called Real Growth and Real Transformation, which has happened due to the unwavering commitment and visionary leadership of Prime Minister Narendra Modi."
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Ajay Shah, Co-Head of TMT Investment Banking at Deutsche Bank, San Francisco said, "India's vision for AI is remarkable. Today, India is indeed at the forefront of AI revolution not just because of the fantastic talent the country has for software and technology but for what Prime Minister Modi has done. India has taken the bull by its horns and focused on how AI can be a disruptive technology for India's growth story. Rather than focusing on the potential negative aspects of AI, India is dwelling on the positives; if AI can be appropriately used for right application then it can deliver significant results. Really excited to see how it has been changing the entire landscape in India and across the world today. Modi guarantees are definitely working for India and for what PM Modi has done for the development of India and global good, we here is US are rooting for his landslide victory in the polls."
Expressing gratitude to PM Modi for what he has done for the development of not just India but for the global good, Rohit Jain, CIO of Harvard Business School Alumni Association, said, "In the past 10 years of Modi government, India has already transformed itself into a global hub of AI (Artificial Intelligence). India is leading the way in technology globally today. We think that the Silicon Valley is the center for technology but for AI India is the global center. I do a lot of research and on governments and societal impacts of technology; in the past 10 years I have seen India have gone from 100000 start-ups to 1 million start-ups in the past 10 years which is really good thing for the economy. PM Modi must continue to deliver on the guarantees for the welfare and development of India. Abki baar 450 paar."
Kamal Ahluwalia, President of Ikigai Labs, said that PM Modi has done a lot of developmental works in the last 10 years. He emphasized that under PM Modi's leadership, India has undergone remarkable transformation with numerous opportunities emerging across various sectors since 2014. The substantial growth in India's skilled workforce, particularly in data and AI models, attributing this progress to PM Modi's initiatives. Moreover, he mentioned the abundance of job opportunities in both India and America within the data modeling and AI sectors. The Modi government, affirming that PM Modi's vision and policies are steering India towards a promising future in the realms of digital technology, he added.
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Amit Walia, CEO of Informatica, hailing from Lucknow (Uttar Pradesh), expressed gratitude for his Indian roots, highlighting its significant influence on shaping his values and outlook. Reflecting on India's remarkable development over the past decade, Walia said, "India has undergone unprecedented transformation in the last 10 years, and the credit goes to Prime Minister Narendra Modi. Today, India is perceived very differently in the global space of innovation, human capital, and progress. PM Modi has put India on a global map as a credible innovator, leader and geopolitics player for all countries. During my stay in the USA, I have seen the tremendous Magic of Prime Minister Modi, particularly in fostering pride in the success of the Indian Diaspora and enhancing the global presence of Indians." Walia further emphasized on Varanasi's development by PM Modi as a reflection of India's progress by promoting Indian tradition and elevating India's pride on a large scale. He also encouraged young Indians to vote for progress, job creation, and innovation, while highlighting the evident progress of India under PM Modi's leadership.
Priya Ramachandran, Founder and Managing Partner Foster Ventures who originally hails from Bangalore in Karnataka, India, said, "Over the past decade, we have transitioned from looking inward to looking outwards, and creating a platform that empowers every individual in India and across the world. It has contributed to India's evolution into a nation that is respected and promotes women and people from all sectors, fostering nationwide equity and equality. This transformation is credited to the 'Modi Magic', which has greatly benefited individuals like myself. This ecosystem fosters collaboration and empowers us to think and work together, which the Modi Government is pushing for during the last decade. Moreover, for fostering better Indo-US relationship, it's very important to continue the efforts initiated years ago for achieving a fruitful outcome and maintaining a desired impact. Thank you, Prime Minister Modi, for everything you are doing."
Indian Diaspora in USA lauds PM Modi for fostering business-friendly environment, leading to India's ascension as a StartUp Nation
Vani Kola, Managing Director of Kalaari Capital, an early-stage venture capital firm, expressed the privilege to be able to participate in the development of Indian startups through investment for the past two decades. Reflecting on progress in technology and entrepreneurship over the past decade, she said, I believe in the magic of dedicated and passionate leadership. The development we have seen in the field of technology and entrepreneurship in the last 10 years is unprecedented. The emergence of over 100 unicorns within this timeframe is nothing short of magical, and it has happened because of great leadership. Prime Minister Modi's leadership has fostered an environment where business is welcomed. Today India is not merely a country that encourages startups, rather, it has already established itself as a StartUp Nation."
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Priya Rajan, the Managing Director of Mitsubishi UFJ Financial Group (MUFG) that since 2014 India has seen more startups than ever before. She added, "Earlier, there were only a handful of Unicorn Companies in India, but now, the country has been witnessing the birth of a new Unicorn Company almost every day." She attributed this incredible progress to the visionary leadership of Prime Minister Modi. "PM Modi has paved the way for countless opportunities for entrepreneurs in India, fostering a conducive environment for innovation and growth. PM Modi's tireless efforts over the past decade and his dedication to promote entrepreneurship is unparallel which has ushered in change, growth and prosperity for all."
About Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.
Website address: https://www.cuchd.in/
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