The fifth edition of the Global Standards Symposium (GSS) is currently taking place in New Delhi, focusing on the impact of emerging technologies on the digital future.

During the symposium, Communications Minister Jyotiraditya Scindia emphasized the transformative impact of artificial intelligence (AI) on information storage and processing.

He highlighted that AI offers unprecedented agility and scalability for both companies and individuals, fundamentally changing how information is managed.

Scindia stressed the importance of ethical considerations and regulatory governance in the deployment of AI and Internet of Things (IoT) technologies, advocating for global collaboration to tackle issues of privacy, bias, and transparency.

Currently, India lacks a dedicated law governing AI, although the Ministry of Electronics and IT has issued advisories in the past.

The Indian government, through the Ministry of Electronics and Information Technology, is actively working on regulations that promote innovation while ensuring responsible AI usage.

An advisory group has been established to develop a regulatory framework tailored to India's unique needs in the AI sector.

The advisory group's objectives include crafting ethical guidelines and promoting the development of trustworthy and inclusive AI systems.

The GSS serves as a precursor to the World Telecommunication Standardization Assembly (WTSA-24), which is set to take place from October 15 to 24, 2024, in New Delhi.

India's AI ecosystem is rapidly expanding, currently hosting over 100 Generative AI startups that have collectively raised more than $600 million since 2019.

The Indian Generative AI market is projected to exceed $17 billion by 2030, reflecting significant growth potential.

Scindia noted that the rapid rollout of 5G across India, completed in just 22 months, is expected to contribute $450 billion to the Indian economy by 2040.