From Financialexpress · FE Bureau · · 1m
India insulates growth from global shocks
Union Minister Vaishnaw warns tech disruptions and AI risks threaten global economic stability.
In brief
Union Minister Vaishnaw warns tech disruptions and AI risks threaten global economic stability. India is building critical materials expertise to insulate growth from global economic shocks. Originally reported by Financialexpress.
Union Minister Vaishnaw warns
Union Minister for electronics and IT, Ashwini Vaishnaw says the world should brace for economic challenges from tech disruptions and financial risks.
“The global value chains (GVCs) will definitely be multi-border, multi-country, multi-geography”
India insulates growth
India is working to insulate its growth from tech disruptions, AI and financial risks through strategic supply chain decisions.
“strategic dependencies, which are the countries you can trust”
Global value chains shift
Global value chains will remain multi-border, multi-country, multi-geography with strategic dependencies requiring continuous reassessment.
“That is the nature of this industry, that will remain as such”
High debt risks
Developed economies' high debt levels could unravel within three to five years, disrupting employment in services sectors.
“high debt levels in developed economies could begin to unravel within three to five years”
Critical materials vulnerability
India's dependence on critical materials like chemicals and gases for semiconductors creates major vulnerabilities in technological sovereignty.
“the chemicals, gases, substrates and other inputs used in semiconductor manufacturing”
Time for action
India must quickly develop in-house expertise to handle critical materials within the time frame of mature materials ecosystems.
“We don’t have that luxury of time”
The one thing
India is building critical materials expertise to insulate growth from global economic shocks.
