Speaking at the ACMA 64th annual session in Delhi, Prasada highlighted the importance of boosting exports, reducing import dependence, and driving economic growth through skill enhancement.
“India needs to boost its exports, reduce its import dependence, and make its economy grow with a focus on skill enhancement,” Prasada stated.
He emphasised the need for improvements in skill development, education quality, and enforcement, particularly in areas like AI, emerging technologies, and new courses that will shape the future.
Prasada pointed out that high import dependence hinders the progress of the Atmanirbhar Bharat initiative, while increased exports would enhance India’s global competitiveness and recognition.
Skill enhancement is crucial for adopting and advancing new technologies, ultimately leading to greater employment opportunities.
Focus on R&D for future growth
The minister also underscored the critical need for technology development and investment in R&D, noting that India currently allocates only around 1% of its resources to this sector.
He urged increased attention and investment in R&D to keep pace with rapid technological changes and to improve digital literacy among the population.
Expressing optimism about India's potential in the evolving cyber world and cyberspace, Prasada said, “I am sure India will not miss the bus in the cyber world or cyberspace… As technology evolves, we are also addressing other challenges, including those related to artificial intelligence.”
Concluding his remarks, Prasada stated that the Indian auto industry’s future lies in emerging technologies like EVs, hybrids, and hydrogen vehicles.
He encouraged industry stakeholders to guide the government on future trends and international developments, saying, “It is you who will back the government and inform us of what lies ahead and what other countries are planning.”
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
