FDI inflows on the rise, great time to invest in India: PM to IBM CEO

Topics IBM | Narendra Modi | Lockdown

Prime Minister Narendra Modi told IBM CEO Arvind Krishna on Monday that it was a great time to invest in India and the country was welcoming investments in the tech sector .

In a virtual interaction with Krishna, the prime minister noted that while the world was witnessing a slowdown, FDI inflow in India was increasing.

Modi said the country was moving forward with the vision of a self-sufficient India so that a globally competent and disruption resilient local supply chain could be developed, according to a statement from the Prime Minister's Office.

Talking about the impact of the Covid-19 pandemic on business culture, the prime minister said 'work from home' was being adopted in a big way and the government was constantly working towards providing infrastructure, connectivity and regulatory environment to ensure that this technological shift was smooth.

Modi also discussed the technologies associated and challenges involved in the recent decision of IBM to make 75 per cent of its employees work from home, the statement said.

The IBM CEO briefed the prime minister about his company's huge investment plans in India and expressed confidence in the vision of an 'Aatma nirbhar Bharat' (a self-reliant India), the statement said.

"The prime minister highlighted that this is a great time to invest in India. He said the country is welcoming and supporting investments taking place in the tech sector. He noted that while the world is witnessing slowdown, FDI inflow in India is increasing," the statement said.

In the course of interaction, Modi explored the possibilities of creating India-specific artificial intelligence (AI)-based tools in the healthcare sector and development of better models for disease prediction and analysis.

He underlined that the country was moving towards developing an integrated, tech and data-driven healthcare system which was affordable and hassle-free for the people.

Modi noted that IBM could play an important role in taking forward the healthcare vision.

Krishna praised the prime minister's vision for Ayushman Bharat (the all-India healthcare scheme) and talked about using technology for early identification of diseases.

Modi on his part, praised the role played by IBM, in association with CBSE, towards launching of AI curriculum in 200 schools in India.

He said the government was working towards introducing students to concepts such as AI and machine learning at an early stage, to further the tech temperament in the country.

Krishna said teaching about technology and data should be in the category of basic skills like algebra, which needed to be taught with passion, and should be introduced early.

Other areas of discussion included the issues of data security, cyber attacks, concerns around privacy and health benefits of yoga.

Modi also congratulated Krishna on becoming the global head of IBM earlier this year.

He mentioned the strong connection of IBM with India and its huge presence in the country, with over 100,000 people working across 20 cities in the company.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel