Digital age is reshaping international competition, says PM Modi at The Sydney Dialogue- Key points

New Delhi: Prime Minister Narendra Modi delivered the keynote address at The Sydney Dialogue on Thursday (November 18, 2021) morning and stated that India’s industry and services sectors are undergoing massive digital transformation. 

Here are the important points:

1. PM Modi started his address by stating that the digital age is changing everything around us. "We are in a time of change that happens once in an era. The digital age is changing everything around us. It has redefined politics, economy & society. It is raising new questions on sovereignty, governance, ethics, law, rights & security," said PM Modi addresses Sydney Dialogue. 

2. "As a democracy & digital leader, India is ready to work with partners for our shared prosperity & security. India's digital revolution is rooted in our democracy, our demography & the scale of our economy. It's powered by enterprise & innovation of our youth," PM Modi added. 

3. PM Modi, while citing the example of bitcoin, also urged nations to work together on the issue of cryptocurrency. All democratic nations must work together to ensure cryptocurrency "does not end up in wrong hands, which can spoil our youth," PM Modi said during his Sydney Dialogue address. 

4. Prime Minister said that India is "turning the challenges of the past into an opportunity to take a leap into the future. While speaking on the theme of "India`s technology evolution and revolution." 

5. PM Modi noted that there are five important transitions taking place in India. "One, we are building the world`s most extensive public information infrastructure. Over 1.3 billion Indians have a unique digital identity. We are on our way to connecting 600,0000 villages with broadband. We have built the world`s most efficient payment infrastructure, the UPI. Over 800 million use the internet, 750 million are on smartphones."

6. On the second transition, PM Modi said India is "transforming people`s lives by using digital technology for governance including empowerment, connectivity, delivery of benefits and welfare.

7. "Three, India has the world`s third-largest and fastest-growing ecosystem. New unicorns are coming up every few weeks to provide solutions to everything from health to national security," said PM Modi.

8. The fourth transition is India`s industry and services sectors are undergoing massive digital transformation using technology for conversion of resources and protection of biodiversity, he added.

9. On the fifth transition, Prime Minister said that there is a large effort to prepare India for the future. "We are investing in developing indigenous capability in telecom technology such as 5G and 6G; India is one of the leading nations in artificial intelligence," he said.

10. The Sydney Dialogue is being held from November 17-19. It is an initiative of the Australian Strategic Policy Institute. Australian Prime Minister Scott Morrison gave introductory remarks for the event. The event will also witness a keynote address by the Former Prime Minister of Japan, Shinzo Abe.

(With agency inputs)