Finance Minister Nirmala Sitharaman on Friday said India's AI-ready talent pool and industry-backed skilling programmes are creating new opportunities for the country's middle class while positioning India as the preferred destination for Global Capability Centres (GCCs).
Speaking at a panel discussion on "How to Promote the Rise of a New Middle Class?" during the Rencontres Economiques d'Aix-en-Provence at Aix-Marseille University in France, FM Sitharaman highlighted India's strategy for fostering inclusive economic growth through skill development, innovation and social welfare measures.
"AI is creating new opportunities. With industry-backed skilling programmes and AI-ready talent, India's middle class is powering innovation and making India the preferred destination for Global Capability Centres," the Finance Minister said. FM Sitharaman said the rapid adoption of artificial intelligence is opening up new opportunities, with industry-supported skilling initiatives preparing India's workforce for emerging technologies.
According to the Finance Minister, the country's AI-ready talent is enabling the middle class to drive innovation while strengthening India's position as the preferred destination for Global Capability Centres. FM Sitharaman also outlined the government's broader approach to improving the quality of life and expanding the middle class.
The minister said India's development model is based on a holistic strategy that combines affordable housing supported by interest subsidies, skill development programmes, internship opportunities and concessional loans for aspiring entrepreneurs. "India's approach to transforming lives is holistic - affordable housing with interest subsidies, skilling, internships and concessional loans to start enterprises," FM Sitharaman mentioned.
The Finance Minister stressed that the government's objective goes beyond lifting people out of poverty. Instead, she said, the focus is on empowering citizens to prosper, build sustainable livelihoods and remain economically secure over the long term.
The panel discussion also featured Portugal's Minister of State and Finance, Joaquim Miranda Sarmento, Morocco's Minister of Economy and Finance, Nadia Fettah Alaoui, and Véronique Bédague, CEO of Nexity, who discussed ways to promote the emergence of a new middle class amid changing global economic conditions.