The Sydney Dialogue | 19 Nov 2021

Why in News

Recently, the Prime Minister delivered the keynote at the inaugural Sydney Dialogue via video conferencing.

  • He spoke on the theme of India’s technology evolution and revolution.

Key Points

  • Highlights of the Address:
    • The international order should ensure cryptocurrencies do not end up in the wrong hands.
      • Citing the unregulated nature of the crypto market, recently, the PM called for taking progressive and forward-looking steps.
    • India’s space sector is open to private investment and the agriculture sector is reaping the benefits of the digital revolution.
    • Highlighted the leaps in India’s digital revolution that has redefined politics, economy and society.
      • However, the digital age is raising new questions on sovereignty, governance, ethics, law, rights and security.
  • Five Important Transitions listed by India:
    • One, the world's most extensive public information infrastructure being built in India.
      • Over 1.3 billion Indians have a unique digital identity (Aadhaar), six hundred thousand villages will soon be connected with broadband and the world's most efficient payment infrastructure, the Unified Payments Interface (UPI).
    • Two, use of digital technology for governance, inclusion, empowerment, connectivity, delivery of benefits and welfare.
    • Three, India has the world's third largest and fastest growing Startup Ecosystem.
    • Four, India's industry and services sectors, even agriculture, are undergoing massive digital transformation.
    • Five, there is a large effort to prepare India for the future.
      • Investing in developing indigenous capabilities in telecom technology such as 5G and 6G.
      • India is one of the leading nations in artificial intelligence and machine learning, especially in human-centred and ethical use of artificial intelligence.
      • Developing strong capabilities in Cloud platforms and cloud computing.

Sydney Dialogue

  • It is an initiative of the Australian Strategic Policy Institute.
  • It is an annual summit of cyber and critical technologies to discuss the fallout of the digital domain on the law and order situation in the world.

Other Such Initiatives

  • Eastern Economic Forum:
    • EEF was established by the decree of the President of the Russian Federation in the year 2015.
    • It serves as a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.
  • Future Investment Initiative:
    • The Future Investment Initiative (FII) is widely described as “Davos in the desert”. It is Saudi Arabia’s flagship investment conference.
    • The informal name derives from the World Economic Forum’s annual meeting that is held in Davos, Switzerland, where world leaders discuss agendas for pressing international issues.

Source: PIB