Electronics and IT Minister Ashwini Vaishnaw has asserted that India will be on par with other semi-conductor chip-making nations by 2032. Speaking at the Bloomberg New Economy Forum in Singapore, Mr Vaishnaw stressed that social media platforms must take responsibility for what they publish to strengthen trust levels in society.

 

 

 

He also expressed deep concern over the growing erosion of trust between citizens and institutions due to the unchecked influence of social media. The Minister noted that the proliferation of deepfakes, synthetic material and rapidly amplified rumours is severely damaging the fabric of societal trust.

 

 

 

Mr Vaishnaw highlighted India’s techno-legal approach to digital governance, explaining that the Data Protection Act is designed as a principles-based law. He said such a framework is essential because technology evolves rapidly and overly prescriptive laws could stifle innovation. 

 

 

 

India is set to host the Bloomberg New Economy Forum in October next year. Inviting the investors to the Forum, the Minister said India will continue to offer a stable policy regime, sustained simplification, good growth and very moderate inflation in the coming years, underscoring the country’s readiness to be a key driver of the global economic transformation.