PM: India in favour of global framework for ethical AI use

MUMBAI: Prime Minister Narendra Modi said that India has made democratic spirit a pillar of governance and extended it to technology, making the country one of the most digitally inclusive societies.

Addressing the Global Fintech Fest here on Thursday jointly with UK PM Keir Starmer, PM Modi said that the India stack has become a beacon for the Global South, reflecting the nation's belief that technology ensures equality and empowerment, not just convenience.

"India's fintech innovations," he said, "are gaining global relevance, while its AI strategy rests on equitable access, population-scale skilling, and responsible deployment. India has always supported a global framework for ethical AI."


Describing Mumbai as the "city of energy, the city of enterprise, and the city of endless possibilities", he extended a special welcome to Starmer, acknowledging his presence and expressing gratitude for attending the event. Highlighting UK's participation as a partner country, PM Modi said the collaboration between "two major democracies will further strengthen the global financial landscape."

"India is the mother of democracy and democracy in India is not limited to elections or policymaking, but has been established as a strong pillar of governance," PM Modi said, citing technology as a prime example of this democratic spirit.

He emphasised that "today's India is among the most technologically inclusive societies in the world", and noted that the country has democratised digital technology "making it accessible to every citizen and every region of the country".

"India is not only sharing technology with other countries but also helping them develop it. This is not digital aid, it is digital empowerment," said PM Modi.

The prime minister underlined how India's digital initiatives have transformed financial inclusion. "India's inclusive approach has transformed the banking ecosystem... banking was once a privilege, but digital technology has turned it into a medium of empowerment," he said, citing the JAM trinity-Jan Dhan, Aadhaar, and mobile-as a key driver. UPI alone facilitates "twenty billion transactions every month, with a transaction value exceeding twenty-five lakh crore rupees," he added.

PM Modi also highlighted India's digital public infrastructure, including UPI, Aadhaar-enabled payment system, Bharat Bill payment system, Bharat-QR, DigiLocker, DigiYatra, GeM, ONDC, and OCEN.


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