Bill Gates On India’s Growth: Innovation, AI, & Global Impact

Microsoft co-founder and philanthropist Bill Gates has expressed confidence in India’s future, predicting that the country’s rapid innovation and economic development will have a transformative impact not only on India but on the entire world.

Speaking at The Indian Express’ Express Adda event in Mumbai, Gates praised India’s ambitious plans for 2047, stating that its success would benefit the world in multiple ways.

“If India stays on the 2047 path, it will be beneficial not just to India but to the whole world,” Gates said.

Gates lauded India’s active democracy, with 20% of the world’s population participating in elections.

He emphasized the country’s focus on critical sectors such as health and education, driving positive societal dynamics.

India’s Promising Growth Outlook

Gates was optimistic about India’s economic growth, referring to the debate on whether the country’s growth rate would reach 5% or 10%.

“It is a great place to be when the debate revolves around whether the growth rate will be 5% or 10%,” Gates remarked, acknowledging the country’s robust economic potential.

He predicted India’s growth rate would not fall below 5%, with expanding investments in healthcare and education fueling further opportunities.

AI & Innovation in India

Gates shared his views on Artificial Intelligence (AI), acknowledging its potential to bring about transformative changes.

However, he dismissed concerns that AI would lead to job loss, stating that it would allow societies to meet basic needs without requiring everyone to work as they do today.

He also praised India’s adaptation of AI, particularly in integrating open-source models to support local needs, including regional languages.

While Gates recognized the promise of AI, he expressed concerns over its rapid pace of development, admitting that he would have preferred to slow it down if given control.

He also warned against heavy subsidies for chip manufacturing in India, advising the country to remain competitive in the sector.

On climate change, Gates was skeptical about the world meeting the 1.5°C or even the 2°C global warming targets.

However, he remained optimistic about the role of technological innovation in mitigating the crisis.

“We won’t meet the 1.5-degree target, and we are likely to miss the 2-degree goal as well,” Gates said, stressing that innovation was crucial in minimizing climate change’s impacts, especially for poorer nations.

India’s Digital Public Infrastructure

One of India’s standout contributions, according to Gates, is its digital public infrastructure, including Aadhaar and UPI.

He commended the country’s growing digital landscape, which has enabled the rapid progress of innovation in sectors like banking, government services, and stock trading.

Gates selected India’s digital infrastructure over vaccine development as its most impactful recent contribution, calling it a “game-changer” for global development.

Concerns Over Journalism’s Future

Gates also voiced concerns about the global decline of newspapers and the threat to investigative journalism.

He lamented how newspapers’ business models were under strain, especially in the US, where national publications often cut back on investigative reporting.

Gates called on philanthropic organizations to support journalism in this critical time.

Bill Gates’ remarks offer a forward-looking perspective on India’s development, its role in global technological innovation, and its potential to address climate change.

As India continues to evolve, Gates believes its growth will benefit not only the nation but the world at large.

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