"This is a period of churn and this is an inflection point," Anantha Nageswaran told an audience in New Delhi on Tuesday, arguing that the approaches that worked since India's independence "may not necessarily be adequate for the next 25 years." His bottom line: "We need to raise our game in multiple respects."
Nageswaran pressed for a development strategy built for artificial intelligence, not borrowed from capital-intensive paths used by wealthier nations. "We have to find ways in which we use AI to complement rather than displace labor, because we are a large country," he said. He also urged young Indians to stay open to trade and vocational skills instead of relying only on traditional academic routes as AI reshapes jobs.
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Despite geopolitical tensions and elevated crude prices, Nageswaran pointed to sturdy bank credit growth, strong tax collections, and solid corporate and banking balance sheets as reasons for optimism. During the April-June quarter, GDP expanded by 7.8%. His message for business was direct: "The private sector must invest, must hire and must compensate fairly and also invest in R&D because the next 20 years is going to be very different from the last 80 years post World War II."
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