India’s Future Ready Economy: Manthan Summit 2024 & AI’s Impact

by ethan.brook News Editor

New Delhi is set to host a major economic and policy summit this weekend, as the Business Standard Manthan convenes on February 24 and 25. The event, described as a “melting pot of ideas,” will bring together leading figures from business, technology, economics and politics to discuss India’s path toward future readiness. This year’s focus shifts from last year’s theme of “The Great Reset” to proactively charting a course for India’s continued growth and resilience in a rapidly changing global landscape.

The summit arrives less than a month after the presentation of the Union Budget, making it a timely forum for analysis and discussion of India’s economic priorities. Key discussions will center around trade, tariffs, and the accelerating impact of technology, particularly artificial intelligence. The Business Standard Manthan aims to be the central destination for thought leadership on these critical issues, attracting a high-profile roster of speakers and attendees.

Economic Future on the Agenda

Union Finance and Corporate Affairs Minister Nirmala Sitharaman is scheduled to participate in a fireside chat on February 25, offering her perspective on India’s economic future, according to event organizers. This conversation is expected to provide insights into the government’s strategies for sustained economic growth and navigating global economic headwinds. Suman Bery, the vice-chairperson of NITI Aayog, India’s premier public policy think tank, will kick off the summit on February 24 with a speech titled “A Path to Modern India.”

The evolving landscape of international trade will also be a key focus. Union Commerce and Industry Minister Piyush Goyal will discuss India’s recent trade agreements and future strategies in a conversation with Business Standard on the opening day of the summit. India has been actively pursuing new trade deals to boost exports and strengthen its economic ties with countries around the world, and Goyal’s remarks are anticipated to shed light on these efforts.

Infrastructure and Agriculture in Focus

Beyond finance and trade, the summit will also address critical sectors like infrastructure and agriculture. Union Road Transport and Highways Minister Nitin Gadkari will present a vision for the future of infrastructure development in India on February 24. India has been undertaking massive infrastructure projects to improve connectivity and boost economic activity, and Gadkari’s presentation is expected to detail these initiatives.

The dynamics of the farm economy will also be under scrutiny, with Union Agriculture and Rural Development Minister Shivraj Singh Chouhan speaking on the topic on the same day. Agriculture remains a vital sector of the Indian economy, and Chouhan’s address is expected to address challenges and opportunities in the sector.

The Rise of AI and Renewable Energy

The growing importance of new energy sources and the impact of artificial intelligence are also slated for discussion. On the concluding day of the summit, Union New and Renewable Energy and Food and Consumer Affairs Minister Pralhad Joshi will focus on the relevance of new energy technologies, particularly as data centers’ energy demand increases alongside the expansion of AI. The demand for energy from data centers is projected to rise significantly as AI becomes more prevalent, and Joshi’s remarks are expected to address the need for sustainable energy solutions.

The Business Standard Manthan follows closely on the heels of the AI Impact Summit, also held at Bharat Mandapam in New Delhi, and builds upon the New Delhi Declaration signed by 88 signatories. The New Delhi Declaration, adopted at the Global Partnership on Artificial Intelligence (GPAI) summit, outlines principles for responsible AI development and deployment.

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