Ensure cryptos don’t end up in wrong hands, PM Narendra Modi urges world | India News

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NEW DELHI: Prime Minister Narendra Modi called for democratic nations to work together on cryptocurrency to ensure it “promotes trade, investment and the larger good” rather than ending up in the “wrong hands”.
In his keynote address at the first Sydney Dialogue, organised by the Australian Strategic Policy Institute, Modi described the current age as one of profound changes, that happens once in an era. “The digital age is changing everything around us. It has defined politics, the economy and society. It is raising new questions on sovereignty, governance… and law. It is reshaping international competition, power and leadership. But, we also face new risks and new forms of conflicts across diverse threats from the sea-bed to cyber to space.”
India, he said, was developing indigenous capabilities in telecom technology such as 5G and 6G, in what is being seen as a significant development because of the keenness of many outside players to be part of India’s 5G rollout. Both India and Australia have kept Chinese firms out of its 5G structure.
Highlighting a recent government initiative, Modi said India was now focusing on “hardware and creating packages to become key manufacturers of semiconductors”. India has been known to have an edge in artificial intelligence and semiconductor design. The PM’s remarks seem to signal India’s desire go further into fabrication and manufacturing. Modi called on democracies to jointly invest in “research and development of future technology”.
He also spoke on India’s digital revolution and the country’s efforts in becoming one of the “leading nations in artificial intelligence and machine learning”.
Modi said, “technology and data are becoming new weapons. The biggest strength of democracy is openness. At the same, we should not allow vested interests to use this openness against us.” He called for collaboration in “research and development in future technology” — for trusted manufacturing base and trusted supply chains.
The PM also called for deeper “intelligence and operational cooperation on cyber security, protect critical information infrastructure.” He flagged the importance of combating the power of subversive cyber activities that attempt to manipulate public opinion.





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