'India could lead the next industrial revolution'

Sir Ron Kalifa, Brookfield's vice chair and head of financial infrastructure, believes India should aim to be the trusted country when a new economic order takes shape. He stated that the global economy's rules are undergoing a transformation, and India could play a significant role in the next industrial revolution. Kalifa emphasized that the goal should not merely be to become one of the world's largest economies; instead, the objective is to become the go-to country for trusted infrastructure, digital systems, capital, partnerships, and innovation. He highlighted that leadership is not determined solely by size or capability but by reliability.

Kalifa noted that the world is witnessing a phase where the future appears imminent, and the question is not whether change will occur but who will shape it. Governments are reshaping supply chains, investors are redirecting trillions of dollars, companies are reconsidering their locations, and nations are determining their reliable partners.

Against this backdrop, India stands as an ideal platform for discussing these changes. Kalifa encouraged India to no longer focus on catching up but to set the pace for the next industrial revolution and to power it rather than merely participate.

He also pointed out that the AI revolution will depend not just on those who create the most advanced code but on those who establish robust foundations. Kalifa stressed that the AI era's foundational infrastructure is crucial, encompassing electricity, data centers, semiconductors, transmission lines, capital, skills, and trust. He reiterated that infrastructure is what determines whether innovation transforms lives or remains a theoretical concept.