'India Has World's Third-Largest & Fastest-Growing Start-Up Ecosystem': PM Modi At Sydney Dialogue

PM Modi further said that the digital age is reshaping international competition, power and leadership.

Prime Minister Narendra Modi At Sydney Dialogue

New Delhi: Prime Minister Narendra Modi delivered the keynote address at The Sydney Dialogue today. He spoke on the theme of India's technology evolution and revolution, with the address being preceded by introductory remarks by the Australian Prime Minister Scott Morrison.

Australia Prime Minister Scott Morrison said in his opening remarks that Australia-India share a deep friendship and their relations will grow even more with time. Morison said, "We are making great progress in so many areas including space, science, digital technology. It's an honour for Australia that PM Modi is addressing the Sydney dialogue."

PM Modi began his keynote address by talking about the digital age which is bringing a revolution in every aspect of life. PM Modi said, "We are in a time of change that happens once in an era. The digital age is changing everything around us. It has redefined politics, economy & society. It is raising new questions on sovereignty, governance, ethics, law, rights and security."

PM Modi further said that the digital age is reshaping international competition, power and leadership. It has ushered in a new era of opportunities for progress and prosperity. But, we also face new risks & new forms of conflicts across diverse threats from sea-bed to cyber to space.

The Prime Minister said that India is turning the challenges of the past into an opportunity to leap into the future and as a democracy and digital leader, India is ready to work with partners for shared prosperity & security. India's digital revolution is rooted in its democracy, demography & the scale of its economy. It's powered by the enterprise & innovation of our youth.

PM Modi also spoke about the five important transitions taking place in India.

• First Transition: PM said that India is building the world's most extensive public information infrastructure. The country is on its way to connecting 600,000 villages; using technology to deliver over 1.1 billion doses of vaccines across India using Cowin & Aarogya Setu.
• Second Transition: Prime Minister said that India is transforming people's lives by using digital technology for governance including empowerment, connectivity, delivery of benefits, and welfare.
• Third Transition: PM Modi said, " We're building world's most extensive public info infrastructure; used technology to deliver over 1.1 billion vaccine doses; investing in telecom technology such as 5G, 6G. India has the world's 3rd largest & fastest-growing start-up ecosystem."
• Fourth Transition: Prime Minister said that India's industry and services sectors are undergoing massive digital transformation using technology for conversion of resources and protection of biodiversity.
• Fifth Transition: PM Modi said that there is a large effort to prepare India for the future. PM said, "We are investing in developing indigenous capability in telecom technology such as 5G and 6G; India is one of the leading nations in artificial intelligence."

Shifting focus to cryptocurrencies Prime Minister said that it is essential for democracies to work together. It should also recognise national rights and promote trade, investment and the larger public good. PM Modi said, "Take Crypto-Currency or Bitcoin for example. Important that all democracies work together&ensure it doesn't end up in wrong hands"

The Sydney Dialogue is being held from November 17-19. It is an initiative of the Australian Strategic Policy Institute. It will bring together political, business, and government leaders to debate, generate new ideas, and work towards common understandings of the opportunities and challenges posed by emerging and critical technologies.