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Home » Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News
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Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News

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The Responsible Integration of AI in India: A Government Initiative

The Indian government is committed to not just adopting Artificial Intelligence (AI) technologies but also ensuring their ethical and responsible application across various sectors. Minister of Finance Nirmala Sitharaman emphasized the importance of regulations that foster innovation while maintaining ethical standards during a recent event.

The Need for Balanced Regulations

In her speech, Sitharaman stated, “We do not want regulations that stifle technological advancement. Instead, we seek regulations that promote responsible innovation.” This statement was made during the unveiling of the report titled Viksit Bharat: The Opportunity for Accelerated Economic Growth.

AI’s Role in Urban Development

Sitharaman highlighted the transformative potential of AI in addressing urban challenges. She pointed out that AI can offer tailored solutions to enhance existing urban areas and effectively plan future urban centers. “AI can help people stay rooted in their locations while delivering long-overdue solutions,” she mentioned.

The Dynamic Nature of AI

“AI is not static; it evolves rapidly and remains dynamic,” said the minister. She stressed the importance of adhering to ethical standards, expressing concern about the potential misuse of AI technologies. “We must ensure that ethics keeps pace with technological advancements,” she added.

Job Displacement and Creation

The report outlines that while AI is expected to create numerous new job opportunities, it will also displace many existing roles, particularly in office, routine, and skill-based segments. Sitharaman pointed out that the role of regulations is crucial to ensure that the evolution of technology aligns with job market needs.

A Techno-Legal Framework for Security

Addressing the audience, Minister of Information Technology Ashwini Vaishnaw underscored India’s commitment to a techno-legal approach to AI security. He remarked, “Our growth narrative is inclusive, robust, and driven by technology.”

Embracing Technological Progress for the Common Good

Vaishnaw noted that innovation should always serve the common good. “The benefits of technology are not solely for the privileged; they must be accessible to everyone,” he stated. This sentiment reinforces the government’s vision of leveraging AI for holistic and equitable growth.

In conclusion, India’s approach to integrating AI into its economy not only focuses on technological advancement but also emphasizes responsible usage and inclusive growth. As the nation navigates the complexities of AI implementation, the emphasis on ethical regulations and a techno-legal framework aims to ensure that the future of technology is bright for all citizens.

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September 15, 2025

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