Business News | Artificial Intelligence May Create More Jobs Than It Replaces in India: Piyush Goyal
Get latest articles and stories on Business at LatestLY. Addressing students at Shri Ram College of Commerce (SRCC) during an event on "Pathways to Viksit Bharat", Goyal said India should embrace emerging technologies rather than fear their impact on employment.
New Delhi [India], October 15 (ANI): Union Commerce and Industry Minister Piyush Goyal on Thursday said artificial intelligence (AI) may create more jobs than it replaces in India, even as the technology changes the nature of existing employment and requires workers to develop new skills.
Addressing students at Shri Ram College of Commerce (SRCC) during an event on "Pathways to Viksit Bharat", Goyal said India should embrace emerging technologies rather than fear their impact on employment.
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"I think artificial intelligence will not reduce jobs. It may actually increase the number of jobs available for our young Indian brothers and sisters," he said.
His remarks come amid growing concerns over the impact of AI on employment, particularly in technology and services, which are major sources of jobs in India.
Goyal acknowledged that the transition to AI-driven workplaces could bring short-term uncertainty as existing roles change and workers need to acquire new skills.
"There may be uncertainty for a short period of time as jobs get redesigned, as we train and skill young India to become developers of agents, to become masters of cybersecurity," he said.
The minister said the adoption of AI and other modern technologies could improve India's productivity, efficiency and competitiveness in global markets while opening up new employment opportunities.
"The nature of jobs may change. In fact, more high-paying jobs will become available for all of us," he said.
Drawing a parallel with India's growth in information technology, Goyal said the country had benefited significantly from adopting technologies developed elsewhere during the 1990s and 2000s.
He said India must now prepare to develop and adopt AI-based solutions that can be used by businesses and ordinary citizens.
"These large language models, LLMs, will have to convert into agents, will have to be made practically usable by the common people," he said.
Goyal also pointed out that sectors such as tourism, sports and services involving human experiences would continue to offer opportunities beyond the reach of AI.
Turning to the broader economic outlook, the minister said India was well-positioned to benefit from changes in global trade and investment patterns as businesses increasingly seek reliable manufacturing destinations and stable economic partners.
"Globalisation is not coming to an end. But the nature is changing. People are looking at resilient supply chains. People are looking at trusted partnerships with other nations," he said.
He added that India's future growth would depend on investments in manufacturing, adoption of new technologies and greater economic development in regions that have traditionally lagged behind.
Goyal also expressed confidence that India could remain the fastest-growing large economy for the next 20 to 25 years, supported by its young population, expanding market and growing technological capabilities. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)