Daijiworld Media Network – New Delhi

New Delhi, Sep 15: Finance Minister Nirmala Sitharaman on Monday stressed the need for regulations that encourage technological innovation—especially in artificial intelligence (AI)—while ensuring its responsible use.

Releasing NITI Aayog’s report AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth, Sitharaman said the government is committed to adopting AI across sectors without hampering progress. “We do not want regulation that literally wipes out technology itself. We want regulations because we want a responsible application,” she said.

Highlighting AI’s rapid and dynamic evolution, the minister warned of potential challenges, including job displacement and misuse with social repercussions.

The report projects that AI will create new roles even as it displaces many clerical, routine and low-skill jobs. It calls for a dual approach—building a workforce with advanced digital and AI skills to seize new opportunities while reskilling and redeploying those displaced.

It further stresses that productivity gains must translate into market growth and stronger global value-chain participation, requiring alignment of industrial and trade policies. The report cites evolving global frameworks such as the European Union’s AI Act and climate-related trade measures like carbon border adjustments as factors shaping market access and regulations.