The Indian Minister for Electronics and Information Technology, and Information and Broadcasting Ashwini Vaishnaw has spoken about the need for social media giants to take responsibilty for content posted on their platform or face stronger regulations. Speaking at the Bloomberg New Economy Forum in Singapore, Vasihnaw also spoke about the fast-paced rise of the semiconductor industries, the increase in startup culture, the technologically advanced talent pool in India, and the major changes happening in the IT industry.
"Social media platforms must start taking responsibility of what they are publishing so that the society at large doesn't get harmed by what they publish," Vaishnaw said, highlighting the growing concerns around deepfakes, synthetic content and misinformation that are eroding trust between institutions and citizens globally.
Vaishnaw says that India is adopting a 'techno-legal approach' to address challenges posed through social media. Legal frameworks need to be put into place, combined with technology that enables trust and does not stifle innovation.
He also stressed that social media platforms need to understand and respect the social structure and diversity of the countries in which they operate, incorporating these considerations into their community guidelines and policies. "Otherwise, there will be stronger regulations. There has to be. Otherwise, society will be disturbed," he cautioned.
'Rapid progress in the semiconductor space,' says Vaishnaw
Talking about technology, Vaishnaw said that the country is seeing rapid progress in semiconductors, space technology and artificial intelligence (AI). He revealed that India now has 190,000 startups, making it one of the top three startup ecosystems globally, a dramatic jump from just 400 to 500 startups a decade ago.
Vaishnaw noted that India started its semiconductor journey just 3.5 years ago. India now has ten fabrication units under construction, with three set to begin commercial production in the first quarter of next year. He emphasised that 298 universities now offer students free access to the world's latest semiconductor design tools, with facilities to design, tape out and fabricate chips.
India has created a common compute facility with 38,000 GPUs available to all at less than $1
On the AI front, Vaishnaw announced that India has created a common compute facility with 38,000 GPUs available to researchers and students at less than $1, compared to $2.5-$3 in developed economies. "Our Prime Minister says that we must democratise technology," he said, explaining the rationale behind equalising access to advanced computing resources.
India to become one of the biggest supplier of AI services
The minister also addressed concerns about India's IT workforce in an AI-dominated future, expressing confidence that the industry would manage the transition. "India will become one of the biggest supplier of AI services. That's what the IT industry people are saying," he stated.
Vaishnaw attributed India's consistent economic growth of 6 to 8 percent with moderate inflation to a four-pillar framework: investment in social, digital and physical infrastructure; focus on manufacturing and innovation; inclusive growth; and simplification of regulations. He noted that 1,500 laws have been removed from the statute books as part of this simplification drive.
