New Delhi, November 20: Representing the Government of India (GOI) at the Bloomberg New Economy Forum in Singapore, Union Minister Ashwini Vaishnaw articulated India’s vision for a stable, responsible, and innovation-driven digital and economic future.
Citing India’s strong economic fundamentals, he said that with high growth rates and moderate inflation, the country will continue to provide a stable policy environment, simplified procedures, and sustainable development in the coming years. He also invited global investors to participate in the New Economy Forum to be held in New Delhi next year.
Expressing concern over the challenges of the digital world, the Minister said that deepfakes, synthetic content, and rapidly spreading rumors are affecting trust between citizens and institutions. He stressed that social media platforms must take responsibility for the content they publish and disseminate to prevent harm to any individual, community, or society.
Vaishnav explained India’s “techno-legal” digital governance model, stating that the Data Protection Act is principle-based, able to evolve in line with rapidly changing technologies and encourage innovation. “We believe in a balanced combination of innovation and regulation, where potential risks are effectively controlled while fostering innovation,” he said.
The minister clarified that companies operating in India are mandated to respect the Constitution, the rule of law, and the country’s socio-cultural diversity. “Platforms must operate responsibly, understanding the social context, diversity, and sensitivities of the country in which they operate,” he said.