Calling for more plug-in hybrid vehicles to reduce energy imports in line with the Prime Minister’s appeal for austerity, he said that an EV battery with a charge of 100 kms would run well in most parts of the country with the backup of an IC engine freeing users of range anxiety along with cutting imports and fuel usage.
Highlighting that India has nearly 11 months of import cover in foreign exchange reserves to assure continuation of imports, he noted that the country’s trade deficit in goods and services together was much lower than its annual remittances.
Pointing to a strong element of labour mobility in India’s FTAs, he stressed that remittances also form a part of trade in a globalized world.Speaking at the CII Annual Business Summit in New Delhi, the Minister urged the industry to leverage artificial intelligence, robotics and quantum computing as force multipliers for growth and competitiveness, noting that AI should not be viewed merely as a cost-cutting tool but as an instrument for business expansion, efficiency and market growth.
Advising industry to run dedicated programmes for employees to train them in smarter uses of AI, he added that some sectors may face technological disruptions.
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He stated that India has consistently adapted to changing technologies by moving from call centres to BPOs, software services and higher-end business solutions, adding that sectors like hospitality, jewellery and several people-centric industries would continue to rely heavily on human creativity and skills.
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First Published: May 12, 2026 7:17 PM IS
