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Informist, Thursday, Jul. 9, 2026

 

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--CEA:Must ensure India's global capability centres stay on right side of AI 
--CONTEXT: CEA Nageswaran speaking at CII GCC Business Summit 
--CEA: India must analyse AI use to empower global capability centres 
--IFSCA chair:India's global capability centres must be ahead of tech curve 
--CONTEXT: IFSCA Chairman Rajaraman's comments at CII GCC Business Summit 
--IT Secy Krishnan: Must embrace AI to address risks posed by it 
--CONTEXT: IT Secy Krishnan speaks at CII GCC Business Summit 
--IT secy: Need to redesign training across institutions to include AI 
--IT secy:Must focus on taking global capability centres to tier-2, 3 cities 

 

NEW DELHI – There are risks associated with artificial intelligence, but global capability centres that stand still will suffer while those that evolve will thrive, Chief Economic Advisor to the government, V. Anantha Nageswaran, said at the GCC Business Summit hosted by the Confederation of Indian Industry here Thursday. "And our task in this way of government together is to make sure that India stays on the right side of that line," Nageswaran said, adding that a country that treats the path of technology as failed will end up being shaped by it, while one that treats AI as a tool will shape it itself.

 

According to him, the role of the government and industry will be to analyse the effective uses of artificial intelligence, which will ensure global capability centres operating in India are not threatened by it, but are rather empowered. "AI does not, therefore, empty these centres. In the centres that are run well, the AI raises the value of each person who works there," the government's top economist said. "So the risk is there, but that is not a sin," he said. 

 

Secretary of the Ministry of Electronics and Information Technology S. Krishnan, who spoke soon after Nageswaran, echoed a similar sentiment. He said the true solution to the risks from AI lies not in shunning the technology but embracing it to ensure it gets deployed in a meaningful manner and utilises India's inherent strength in the area. 

 

Krishnan stressed the need for AI knowledge alongside proficiency in fundamental domain knowledge. "We need to redesign the kind of training programmes that we do across institutions, across companies which are in this space now," he said, adding that it would be a critical element in determining whether India succeeds as a country that leverages AI to its talent strength.

 

Krishnan also said that setting up global capability centres in tier-II and tier-III cities should be a focus for the government and industry in order to expand the ecosystem meaningfully. "...the possibility of doing it through interventions at the state level are immense," he said. "...the possibility of going to tier-II, tier-III cities where rents are lower, carbon costs are lower, and almost every other aspect is something which would truly work for these kind of companies and concerns is something that can truly happen," he said. 

 

International Financial Services Centres Authority Chairman K. Rajaraman, who was also present at the event, said technological evolution is also deeply imbedded in growth of financial services-based global capability centres. "One side is the domain and the other side is technology. It cannot be separate. So, in the same way, the financial services sector is also one of the biggest users of technology," he said. 

 

Given this deeply interconnected structure of technology and financial services, Rajaraman said it is imperative for financial services companies to stay ahead of the technology curve. "We have to stay ahead of the curve. There's no exception," he said. "...we think that the intelligent technology companies from IFSCA will actually empower financial sector companies to actually scale up to provide cross-border financial services."  End

 

Reported by Shakshi Jain and Priyasmita Dutta

Edited by Avishek Dutta

 

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