PM at ET GBS 2019
Speaking at the ET Global Business Summit, PM said India today is a country where the impossible is now possible, which stood out in contrast to the sentiment prevalent in the previous government where the only competition was over corruption.
PM Modi said that while for decades, a narrative was made that certain things are just impossible in India, the progress achieved since 2014 shows nothing is impossible for 130 crore Indians.
“Namunkin Ab Mumkin Hai (The impossible is now possible),” Modi said, pointing to how it was said that a corruption free government in India was impossible but people of India have made it possible. “It was said that economic reforms in India were impossible, but people of India are making it possible.
It was said that governments cannot be pro-growth and pro-poor at the same time, but people of India are making it possible,” the PM said.
India is world’s most vibrant nation: Sadhguru at ET GBS
Going onstage after Prime Minister Narendra Modi’s keynote address is hard. But not if you are Sadhguru Jaggi Vasudev. A much sought-after speaker, Vasudev was at his best, peppering his 20-minute speech on February 23 at the fifth edition of the ET Global Business Summit with humour and wisdom. He said India might look like “impossible chaos” to outsiders, but it is in fact a resilient organisation. He quickly added, “We enjoy some chaos. We feel lost if there is no chaos.”
He said India has in the past three decades understood what makes a country work. “To make a nation successful, what is required is not successful politics or successful armies, but successful businesses.”
Billionaire GP Hinduja talks about India’s bad debt problem
UK-based billionaire GP HindujaNSE 2.22 % blamed private equity funds for some of India’s corporate debt problems citing the short term approach of such investors as reasons that often lead to companies collapsing and getting dragged to bankruptcy courts, but expressed great optimism about the country’s prospects.
“India’s democracy is strong and it is the best destination to invest in”, Hinduja told an audience comprising distinguished Indian and global business leaders at The Economic Times Global Business Summit on Saturday.
Data Regulation, Transparency & the Power of World’s Most Valuable Resource
National Cyber Security Coordinator Dr. Gulshan Rai, OYO Rooms founder Ritesh Agarwal, Truecaller co-founder Alan Mamedi, Yes Bank’s Amit Shah, Poynt founder Osama Bedier, in conversation with Archana Rai, Editor – South, The Economic Times, during a session titled – ‘Data Regulation, Transparency & the Power of World’s Most Valuable Resource’ at Day 2 of the ET Global Business Summit 2019 in New Delhi Saturday.
Who owns the responsibility of data leakage ? Data ownership and its sovereignty leads to the issue of data regulation, said Dr. Gulshan Rai.
When you create markets, business moves: Facebook’s Sandeep Bhushan
Talking about market creation Sandeep Bhushan stresses upon digitalisation as he tells us, “when we built whatsapp the idea was to get depth to the access and therefore create used cases. The other dimension would be infrastructure for example markets like north east where the digital expansion continues to be more significant agenda we are working on small entrepreneurs to provide internet in pocket size currencies.
Govt’s report card before India: Piyush Goyal
Piyush Goyal began his speech highlighing major pointers of PM Narendra Modi’s agenda. He said the change in government has brought about a change in the mindset of people. The report card is before the people of India of how they have liked the change.
He talks of Modi’s popularity in states like Tamil Nadu and West Bengal.
Information – power to do greater good for people: Facebook’s Shivnath Thukral
A few points of his speech-
Problems created by technology haave to be handles by technology. In terms of policy approach we have community standards withinn our platforms which is determined of what is allowed and what is not allowed on the platform.
Misinformation is a social problem. Fake news is done by someone. When troll armies of political parties pump out content it is a human decision and it affects everyone.
The Firm of the Future will have to be low cost and differentiated both: James Root, Chairman, Bain Insight Group
The future of growth whether in jobs or in profits will come from companies that either create platforms, or are outsourcers or are providers or product or services, said James Root, Chairman, Bain Insight Group.
Addressing the Yes BankNSE 3.18 % Economic Times Global Business Summit (GBS) on Saturday Root said that most companies and business will have to face several challenges going ahead. These challenges would include technology, changing workforce, no more easy growth markets and short-term view of public markets.
India needs to do more to facilitate shift to electric vehicle: Tesla co-founder
The Indian government needs to do more to expedite the process of movement to electric cars from gasoline cars, feels the founder of Tesla.
“We should try to move away from gasoline cars as fast as possible. But the Indian government needs to do more (to facilitate transition towards electric cars),” Martin Eberhard, founder and original chairman & CEO, Tesla.
Eberhard now is the founder of Tiveni, which is working on building electric power trains.
The Indian government provides subsidy to the consumers buying electric cars but the country does not have adequate ecosystem to support widespread use of electric vehicles.
Artificial Intelligence will not replace, but augment people: Sebastian Thrun, co-founder Udacity
Is Artificial Intelligence (AI) a friend or foe? Most people, fearing job losses to AI and machines will be quick to say AI is the enemy, something to worry about as it will take away jobs and machines will take over the world. Sure, AI will make us efficient, but fears of job losses are overplayed.
Putting fears to rest tech guru Sebastian Thrun, CEO, Kitty Hawk Corp and co-founder Udacity said, “AI is not made to replace people, but augment people. Much like mobile phones have done for us.” Thrun was speaking at the ET Global Business Summit. Kitty Hawk Corp is working on electric cars while Udacity is an online learning platform offering short term courses in areas like AI, drones, machine learning etc.
Strategy for $10 trillion economy in the works: Suresh Prabhu
Commerce and industry minister Suresh Prabhu on Saturday said the government is making a strategy to make India a $5 trillion economy and simultaneously fine tuning the plan to take it to $10 trillion.
Of the $5 trillion, services sector contribution is pegged at $3 trillion and equal contribution for manufacturing and agriculture at $1 trillion each.
“Services can not grow at the expense of agriculture and manufacturing. Services can provide jobs opportunities for which we have identified 12 champion sectors,” Prabhu said at The Economic Times Global Business Summit here.
India is sitting on the crux of a digital revolution: Ravi Shankar Prasad
Ravi Shankar Prasad, Minister for Law & Justice and Electronics and Information Technology, talks about Indians’ appetite for technology and data protection.