NDTV World Summit 2024 Live: Jaishankar Says Canada Ties 'Problematic', Disengagement Exercise At LAC Complete

"This is a source of concern to us," Jaishankar on airline bomb threats. "This is not the first time this is happening," he said.

"There are countries which feel that your concerns don't matter. However, as soon as something very little happens to them, they start jumping," he said.

"It raises a lot of questions on the concerned country's credibility," the Union Minister said amidst the India-Canada row.

"Leading into G20, we thought that the global south needs to come back into main-frame," Jaishankar said. "This is where we were on the front foot. There are some things, however, that needs to be done with deftness," he said.

"If you have a confident leadership, if you tell people that you are a third term government, it garners a lot of respect," he said.

External Affairs Minister S Jaishankar emphasised a long-term vision for India's development, stating, "We are not working for a five-year term. Even in the cabinet, we have the Indian century in mind."

"From 1950s, there were many lost decades in our country. We went too much into the direction of socialism, killed businesses," said the Union Minister. "India missed the bus of globalisation in 80s. We did not do as well as we could have," he said.

Jaishankar shared that when I look ahead, political stability is absolutely crucial. Look at 100 days post results, we have made so many decisions in the country's interest.

"You need leadership—people who can look ahead and make important decisions. We need vision, leadership, and political stability, along with the ability to motivate young people and provide them with opportunities," he said.

"I went to Pakistan for the SCO meeting. We were very supportive of it. We shook hands, and came back."

"Our neighbourhood is largely democratic. This means that political changes will occur regularly. We will often be the subject of their politics. We have to accept this and factor it into out policy. Ten years ago when PM Modi took charge, this was one of the primary conversation," says Jaishankar.

"Most of the large big tech corporates are largely American. The tech world has a relatively short shelf life, in as much as it needs continuous evolution. We missed the bus on the Semiconductor ride. We had virtually nothing until last year. You can't be the fifth largest economy and say that I have no contribution in the semiconductor fora. The government is thinking ahead. If this is to be your century, you cannot end up just as a market for other nations' products."

"If you look at our history post independence, Russia has never done anything to impact our interests negatively. You have a Russia that is turning towards its Asian counterparts. Should we not do what is in our national interest. Russia is home to a host of natural resources. There is an economic logic to the relationship."

"India-USA relations have grown in a stable manner since the few decades. Today, there is a very strong convergence between USA and India. It is deeply entrenched in technology."

"We are the only two countries with more than a billion people. We are on a track of economic recovery. Here lies the challenge; we are neighbours and we have unresolved boundary issues. They are rising and so are we, and if two neighbouring countries rise simultanoeusly, it is never easy. Both of us would naturally want to be at the helm. The big issue that will need to be resolved is how to maintain the equilibrium."

Jaishankar said the deal to reach these understandings pertaining to patrolling and sanctity of LAC creates the basis for peace and tranquility in the border areas.

"We'll have to see what consequences will follow. It is my caution as a minister to be careful and cautioned with respect to speculations on trade."

"We have reached an agreement on patrolling. We have reached the pre 2020 situation. The disengagement exercise with China is complete. In due time, the details will be out."

Jaishankar drew the contrast between Canada and its western peers. "America used to say if you are not treaty ally, we will not co-operate beyond a point. But they evolved after Quad. Many western countries acknowledged India's role. This did not happen in Canada due to domestic political compulsions."

"We cannot say that the entire west is unreasonable. But I will say this, Canada is way behind," he added.

"We are seeing consequences of changes in domestic Canadian politics. Canada recently asked us to subject our high commissioner to a police enquiry but we chose to withdraw our commissioner. They have problems with Indian diplomats collecting info on issues that affect us directly. The same is not true for Canadian diplomats in India," Jaishankar said.

Jaishankar said the India's relationship with Canada right now is problematic. "In last 20-25 years, there has been a re-balancing. Many non-western countries have had a bigger role to play. The equation between the west and the non-west nations has changed. Where Canada is concerned, there are some specific issue. If you look at the business relations, they are extremely strong."

"The importance of Indian talent and skill is growing day by day. Countries in Europe and North America are interested to attract Indian talent. Within certain demographics, we are disproportionally large."

New Delhi when there is no fog. For fun, Rio De Janiero in Brazil.

"Don't be in a rush, study carefully. You have to listen to the market, be logical, refer to facts and talk to management," says Mark Mobius.

"Emotion is the potion. Market is built on emotion."

India is going to become one of the leaders in semi-conductor production, said Mark Mobius. He said the reasons include demand, an open economy and a robust software ecosystem and would require more infrastructure.

Mark Mobius said what PM Narendra Modi got is to be all encompassing of all people of India through digitalisation. "It was inclusive and accelerated. Digital India is one of the biggest achievements."

He also said the PM unified the tax system which was an "incredible change".

"The problem with emerging markets is that it is so varied, you will lump them into one big pot and the outliers tend to drag down the rest. But EMs are still on average growth double the rate of advanced countries. Suck stock markets will do better over the long term," said Mark Mobius.

Mark Mobius said he looks at return-on-equity, debt-to-equity and the quality of management as key levers for taking investment decisions.

"I don't look at PE the way I used to. This is because the E of PE is backward looking. The most important metric is the quality of the management. That is why I travel so much, to meet these people," Mark Mobius said.

"International financial institutions understood that if want to create wealth, you have to create a market economy. That was a critical decision. For market economy, you need stock markets to raise capital," said Mark Mobius

Pernod Ricard is coming up with an investment of 200 million euros in Nagpur, which will be the largest malt maturation facility in India and one of the biggest in Asia. "Through this, we will be able to contribute to the rural development of the area," said Prasanna Mohile.

"People know it as Seagrams, but Pernod Ricard has been in India since the last three decades. We have had very successful operations in the last 30 years and have almost 25 manufacturing facilities all over India. We have been exporting to 50 plus countries. For Pernod Ricard, India is the second largest market after the US. In the last 10 years, we have seen stable policies from the government. This is what has prompted us to expand and invest more into India," said Prasanna Mohile.

Prasanna Mohile, national head of corporate affairs at Pernod Ricard India, is now speaking on the subject 'Shaping India's Spirit'.

Syed Akbaruddin said world has to deal with non-state actors not just of the kind that's involved in political realm but also in business world. He cited example of need to regulate space through multilateral co-operation as private players like Elon Musk take a lead in gaining influence and authority.

India has a role to play in post-conflict Gaza and Lebanon. The Palestinian conflict is now back in focus after years of neglect, said Ashok Malik, Partner & Chair, India Practice, The Asia Group.

"The faultlines in West Asia has changed. We grew up where Arab-Israeli conflict was the faultline. It is now between Iran and Israel," said Syed Akbaruddin.

India deserves a permanent seat at the UNSC. It is a very important actor on the international stage. G20 session last year has shown India's weight, said German Ambassador Phillip Ackermann.

Bhutan PM Tshering Tobgay said the Indian government has given the country Rs 1,500 crore for the economic stimulus programme.

The country aims to launch 2,000 MW of new projects in partnership with India in the next five years.

He also said he is in a hurry to watch India convert into an advanced nation. "This may be India's century, but you cannot avoid us. We are in this together."

The Gelephu Mindfulness City has been purposely placed on the border with India, near Assam, said Bhutan PM.

"GNH is a developmental philosophy that we continue to implement. This is a special administrative region. It will be a city spread over 2,500 sq kms. It has protected areas. It has rivers that can generate huge quantum of electricity. Gainful mindfulness city is not about Bhutan, it is about India and Bhutan."

Bhutan PM explained the second edition of Happiness Index.

"Economic growth must be balanced with social progress, cultural preservation and good governance. We have 9 domains that are measured. Some of these are health, education, living standard, time use, psychological well being, culture and the like. These are divided into 33 sub-segments. 154 questions are prepared which is then rolled out in a survey every 5 years."

"The world needs India. India's population is growing, it has a booming economy. By every measure, this is India's century. Global south looks to India for leadership, trusts India's leadership. If there is any country that can sort world's problems, it is India. On the Russia-Ukraine war, if there is any person that can deal with it is PM Modi," says Bhutan PM Tshering Tobgay.

"I studied 11 years in India. I was born in Kalimpong in West Bengal. My formative years were in India, as indeed of many people in Bhutan. We Bhutanese grew up under the parentage of Indian teachers."

Prime Minister of Bhutan Tshering Tobgay will speak at 2:30 p.m.

Speakers to follow include Dr Phillip Ackermann, Ambassador of Germany to India, Kenneth H. da Nobrega, Ambassador of Brazil to India, Ashok Malik, Partner & Chair, India Practice, The Asia Group and Syed Akbaruddin, former permanent representative of India to the United Nations in a panel discussion on the topic 'Geo-political disruptions: Emerging powers vs existing powers'.

Prasanna Mohile, national head, corporate affairs, Pernod Ricard India will speak on 'Shaping India's Spirit'.

This will be followed by Ramesh Damani, veteran investor in conversation with Mark Mobius.

Dr S Jaishankar, External Affairs Minister will address the event on the topic 'The India Century - Diplomacy Redefined'.

We have heard from notable speakers from PM Narendra Modi to Sunil Bharti Mittal to Baba Kalyani so far on NDTV World Summit 2024 day one.

Here's a roundup on what they said:

Modi On Mark Mobius' Love For India

Sunil Mittal's Outlook On India's Manufacturing Push

David Cameron Wants India As Permanent UNSC Member

Where US Fails Vis-A-Vis India, According To Paul Romer

Zepto is the fastest growing internet company from India and is launching in new cities, says so founder Aadit Palicha.

"We started this company with an idea to build interesting things. We think we have a really good chance to build something very interesting here. This could help the entire start-up ecosystem. We want the eco-system to go 10x from here. This could be the Flipkart moment all over again."

"People that report to me are almost double my age. It has taken time, but we have proven our ability to add value to the time. The team now has conviction that Aadit has some idea of what he's talking about," Palicha said.

Palicha said Zepto went from 0 to 50,000 delivery partners within 36 months. It provides them the ability of doctor consultations and term insurance.

"We are going to crazy lengths to solve some of their problems. In a nutshell, we look at everything from insurance to cash flow problems. We are always open to feedback and suggestions," he said.

"We took a year just talking to customers. We are a customer centric company. The experience had to be as seamless as going downstairs and buying stuff physically. The retention of customers is so high because of the 10 minute delivery time. We give a live ETA to the customers when they order," co-founder Aadit Palicha said.

Our parents were upset after we dropped out of Stanford to start Zepto, says 22-year-old Aadit Palicha.

"She pretty much still says that," he said, on being asked if partner Kaivalya Vohra's mother still says they should go back to colleges.

"We shouldn't be happy about MNCs setting up shop here just because they create jobs, this is another type of colonialism," says Baba Kalyani.

He said the scale of manufacturing in India needs be 12 times of where it is at and without innovation, you cannot manufacture. "There are many areas where we don't make anything. To convince global players regarding our tech, the innovation should be such that it is not there anywhere on the planet.

Suneeta Reddy, Managing Director, Apollo Hospitals Group, said India spends only 0.7% of GDP on research and this needs to change. "We need to think why its important for India. Unless we do the right research, and integrate it with other practices such as Ayurveda, it can lead to a healthy India."

"Ethanol is the green fuel and pollution levels are much lower. Positive side is that the government has moved pro-actively to push ethanol blending. It reduces the import bill drastically. Now the government is saying that you can use wheat, maize, essentially anything that has starch," said Ajay Shriram, Chairman & Managing Director, DCM Shriram.

Baba Kalyani of Bharat Forge said developing defence technology involves a lot of risk and his company has achieved its goals.

"Today, we export artillery guns to other countries. We have a lot of advantages today in terms of tech breakthroughs. No manufacturing company can survive without using AI, IoT. We can't just copy products from outside. Other countries should now copy our products."

"We've signed an agreement with IIT Chennai to re-engineer medical devices at 1/10th of their costs. Next is to bring technology, healthcare and bio-engineering together. Patients from 147 countries come to India to avail health services. We should aim to reach more people throughout the world," said Suneeta Reddy, Managing Director, Apollo Hospitals Group.

"Without manufacturing, India cannot achieve its Viksit Bharat objectives. We've been manufacturing critical components in automotives for the last two decades. AI is going to make an ordinary person into an extraordinary one. AI will will increase efficiency," said Baba Kalyani, Chairman & Managing Director, Bharat Forge.

This panel discussion will involve Baba Kalyani, Chairman & Managing Director, Bharat Forge, Suneeta Reddy, Managing Director, Apollo Hospitals Group and Ajay Shriram, Chairman & Managing Director, DCM Shriram.

"We continue to work with HAL and soon manufacture F414 engine. Over 900,000 are flying the globe with GE Aerospace tech. We cannot be more excited for what India has to offer for this sector," said Vikram Rai, CEO of GE Aerospace, South Asia.

"We are rapidly closing the gap with mature aviation markets like China and the US. There is significant potential for growth, driven by a strong push for infrastructure development. The number of airports has doubled in the last decade, and Indian airlines are already on this transformative journey. We've developed engines that are 10-15% more efficient than previous models," said Vikram Rai, CEO of GE Aerospace, South Asia.

"Routine, mundane, repetitive jobs will be under huge threat. Remain hopeful that new ideas will come through that will lead to new jobs. We will be serving the world right from India. AI allows us to do that and our frugal innovations are going to serve the world," Sunil Mittal said.

"AI will be the most important drivers of economy, politics, geopolitics. There will be misuse of AI as well, we will have to more vigilant. Nation states will have to come up with guardrails. One will have to be vigilant, society will have to be protected from evils of AI. I remain very optimistic of the various uses of AI," he said.

"We need to buy more spectrum. The future is resting on digital infra. We will build infra similar to Singapore and Japan right here in our country. Policy predictability is required for all investors. In the last decade, we have seen more stability, regulations have simplified," Mittal said.

"We are significantly superior than US, UK, Europe regarding quality of mobile networks. We are behind Japan, Singapore."

Sunil Bharti Mittal said the problem telecom companies face in places like Lutyen's Delhi is difficulty in placing mobile network towers in areas like residential buildings as people tend to deny permissions.

"We have two billion people in the world not connected to the internet. The large swathes of Rajasthan, Himalayas are difficult to be covered by telephony. For these areas, you need satellite communication. This is a huge opportunity for Indian players," Sunil Mittal said.

"India provides high quality signal to 95% of its people."

"All industrial players know that the consumption is going to rise. Government is encouraging massive investment in infrastructure. Airtel spends Rs 30,000-35,000 crores in digital infrastructure," says Mittal.

"Africa has always been the continent of hope. We have 160 million customers in the continent in 14 countries. The companies are growing at the rate of 20%, which is huge compared to other places."

"The good thing is that India's money is welcome on the global stage, unlike our neighbours. China's investments are being blocked, while Middle East sovereign funds are seeing stronger filter. Western world prefers private investment. You are seeing GMR airports globally, Adani going global, and the like."

"In 2010, we made an audacious move to go Africa. You will see Airtel in 14 countries in Africa. We are in Sri Lanka and Bangladesh. We have recently made a move to acquire 10% in British telecom. You can see emergence of India's companies on global stage," says Sunil Mittal.

"We have seen the transformation of this country. India has become a place where you produce locally, use locally, and even export locally," said Mittal.

Bharti Airtel chief Sunil Bharti Mittal is speaking at the NDTV World Summit 2024.

Nobel Laureate Prof Paul Romer said it is worrying that for voters in the US, it is a "hard choice" between a former federal prosecutor and a habitual criminal in the presidential election. He noted that the election is too close to call.

"China and Russia want to go back to world of empires. They think of empires meddling influence and no notion of national borders. There is a western nation which says nations cannot invade others. India needs to decide which side it is on. I think India will stand up for sovereign state as the organising principal," he said.

"In India, the benefit is people get benefits in their daily lives in terms of innovation and delivery (of services). People see the government has delivered and that gives it legitimacy and allows it to do more. In Aadhar, there was fear that the judiciary will hamstring the initiative, but we had a strong executive that pushed it through."

"You don't need a government that runs an airline. You need one which is strong on safety regulations and tell airlines you can't fly planes unless you fix safety defects," he said.

"Economists have done a huge disservice to the world by reinforcing the notion that government is the problem and the market is the solution. This is something that has been tackled by India. The Indian government is not afraid to set up standards that are to be followed. Indian government built the UPI. In our country, people are scared of the government coming up with even an application," said Nobel Laureate Prof Paul Romer.

Nobel Laureate Prof Paul Romer said the US has squandered opportunities in technology and to see that, it has to be compared with India.

"People in US are not living as long. This is because tech has not been used to increase the average life expectancy in the US. The technologies have not been used to improve quality of lives. Look what Aadhar has done, not just making it easy to make digital payment but gave existence to millions of people with no access," he said.

Nobel Laureate Prof Paul Romer is now speaking at the NDTV World Summit 2024 on the topic 'The Age of Indian Disruption'.

The former UK Prime Minister, who is an avid cricket fan, picked three Indian cricketers of different generations as his favourites. He started by remembering former India captain and left-arm orthodox spinner, Bishan Singh Bedi. He also highlighted Rahul Dravid as a great batsman and Virat Kohli's leadership of the modern Indian cricket team.

The former UK prime minister praised Ratan Tata's contribution to reviving and growing Jaguar Land Rover. He said that Tata's work made him realise that India's time had arrived on the global map.

David Cameron said that he admires ex-UK PM Rishi Sunak. "He is very hard-working and capable. Sunak managed to bring down inflation and should be proud of his small tenure."

The former UK Prime Minister said that India might well be in a position to mediate in the Russia-Ukraine crisis. He also emphasised that Russia can't be allowed to take land by force adding that two wrongs don't make a right.

The former UK Prime Minister emphasised that India deserves a permanent seat at the UN Security Council.

"The world needs India's perspective on the challenges it faces. An example of this is climate change," Cameron said.

Former British PM David Cameron is now speaking at the NDTV World Summit 2024 to share London's views on the 'India Century'.

"India's Century won't just be of our but also of humanity's victory. A century that prospers on everyone's talent, innovation, free of poverty and wars and heralds global peace," says PM Modi

"India has shown digital innovation and democratic values can co-exist. We have shown technology is a tool of inclusion, empowerment and transparency and not of control and division," says PM Modi.

"India is making progress on creating infrastructure and skillsets for Industry 4.0. In every global summit, the world discusses India's revolutionary digital payments ecosystem. Innovations like Aadhar, UPI, digilocker have received big commends," says PM Modi.

"India supplied vaccines during global pandemic. We do not make 'taken-for-granted' relationships. Our relations are based on trust and trustworthiness. World understands that. India's progress makes world proud and upbeat. Take the Chandrayaan's example. India has been a positive force for global good," says PM Modi.

Prime Minister Narendra Modi highlighted India's artificial intelligence steps to match with global peers. He also said that AI stands for Aspirational India. He highlighted that India needs to aspire to grow faster and tap its full potential.

"India's pledge to be a developed nation by 2047 needs us to understand what we need to do. It requires a forward-looking approach. It is now a people's movement. We have taken suggestions from lakhs of people to prepare the roadmap for developed nation in 25 years," says PM Modi.

Nearly 25 crore people have escaped poverty in the last 10 years. Millions have got access to toilets and gas cylinders. Over 350 medical colleges have opened. Over 1.5 lakh startups have started and eight crore youth have taken Mudra loans. I says, this is not enough," says PM Modi.

"Today, the world in coming to India. Rating agencies have increased their growth forecasts after seeing our work in the first 125 days. When a person like Mark Mobius tells global funds to invest at least half their capital in India, it gives a big signal," says PM Modi.

"We have continued our focus on infrastructure building, providing rooftop solar to five crore houses, internship scheme for our youth, approved new industrial corridors, our forex has crossed $700 billion. The list of India's achievements is impressive. This is just in 125 days.," says PM Modi.

"While the world in dealing with multiple challenges, India is talking about the 'Indian Century'. Today, India's scale and scope in unprecedented. Our government's third term has completed 125 days. I'm here to give you what we have achieved so far," says PM Modi

The world has been grapple with tensions. It was the Covid pandemic and then its impact on the world economy. Then there were wars and the fallout on global supply chains. It was a difficult period for the world, dealing with multiple challenges and tensions," says PM Modi.

PM Narendra Modi has commenced his address at the NDTV World Summit 2024 as the keynote speaker.

"India is filling a vacuum and offering leadership under PM Modi. The emergence of global south is also a testimony of these changing times. It is within this context, NDTV presents this world summit," says Sanjay Pugalia.

"Despite tectonic shifts in global order, India under PM Modi's leadership remains extremely stable and championing the cause of world peace. Our influence continues to expand, geopolitical dynamics and economic landscapes," said Sanjay Pugalia.

NDTV Network Editor-in-chief Sanjay Pugalia has commenced his speech at the start of the NDTV World Summit 2024 – The India Century.

• Prime Minister Narendra Modi

• S. Jaishankar, External Affairs Minister

• Dasho Tshering Tobgay, Prime Minister, Bhutan

• David Cameron, Former Prime Minister, Britain

• Prof. Paul Romer, Nobel Laureate in Economics and former Chief Economist of the World Bank

• Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises

• Mark Mobius, Chairman, Mobius Emerging Opportunities Fund

• William Dalrymple, author and historian

• Ashok Malik, Partner and Chair of India Practice, The Asia Group

• Ramesh Damani, veteran market investor

• Vikram Rai, CEO, GE Aerospace, South Asia

• Shraddha Kapoor, Actress

• Suriya, actor and director

• Adit Palicha, CEO and Co-Founder, Zepto

• Baba Kalyani, Chairman and MD, Bharat Forge

• Ajay Shriram, Chairman and MD, DCM Shriram

• Sunita Reddy, MD, Apollo Hospitals Group

• Syed Akbaruddin, former Permanent Representative of India to the UN

• Dr. Philipp Ackermann, German Ambassador to India and Bhutan

• Kenneth H. da Nobrega, Ambassador of Brazil to India

• Prasanna Mohile, National Head, Corporate Affairs, Pernod Ricard India

• Balakrishnan Shankar, Dean, School of Engineering, Amrita Vishwa Vidyapeetham

• Suresh Kodur, Director, Academia Industry Partnership, Amrita Vishwa Vidyapeetham

• Kartikey Hariyani, Founder and CEO, ChargeZone and BILLIONe

The NDTV Group is set to host the NDTV World Summit 2024 – The India Century, on Oct. 21 and Oct. 22. Prime Minister Narendra Modi will inaugurate the event, alongside other prominent Indian and global figures.

NDTV, carrying on its tradition of leading innovation in media, will launch the 'NDTV World' news channel at the summit, with the tagline, "Seeing the World from Where India Stands."

NDTV World will aim to be a leading voice from Asia and India on the global stage.

On Day 1, apart from PM Modi, notable speakers at the summit include External Affairs Minister S Jaishankar, Bharti Airtel Chairman Sunil Bharti, Bhutan Prime Minister Dasho Tshering Tobgay, market veteran Ramesh Damani, Nobel laureate Paul Romer, expert investor Mark Mobius, and actress Shraddha Kapoor, among others.