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Update date: April 12, 2026 12:39 IST
new delhi [India]April 12 (ANI): As the world grapples with the perfect storm of challenges of war, energy crisis and upcoming AI crisis, India is emerging as a bright spot in a bleak global picture. Frank-Jürgen Richter, former World Economic Forum director and chairman of Horasis, believes India has the momentum to become a global leader in AI and manufacturing.
In an exclusive interview with ANI, Richter said Europe has lagged behind in terms of establishing its own AI capabilities and sovereign AI. “Europe is in a downturn, there are people unemployed in Europe. We may have missed the boat in terms of building our own AI capabilities and our own sovereign AI,” he said. In contrast, India is rapidly moving in the right direction, especially in AI, IT, manufacturing, and agriculture.
Richter pointed to India’s bold statements at the AI Impact Summit in Delhi in February, where Prime Minister Modi declared that India should become the AI superpower of the future. “Right now, there are two superpowers: the United States and China. China is independent from the United States and is developing its own AI… India is also moving in the same direction, trying to apply AI in manufacturing,” Richter said.
India’s efforts to become an Industry 4.0 superpower are gaining momentum, with the government making great strides in reducing red tape and corruption. “A lot has changed since this government came to power. Red tape and corruption are being minimized. I think this is a very positive change in business formation,” Richter said.
To sustain this growth, Richter stressed that India must continue to welcome foreign direct investment (FDI) and avoid protectionism. “I think India should not be protectionist and should maintain its current stance and welcome direct investment,” he added.
Richter added that he is optimistic about the country’s future as the world looks to India as the new engine of globalization. “I’m very confident in India, but overall I’m quite pessimistic,” he said, highlighting the challenges currently facing the global economy. (Ani)
