Europe missed AI bus, but India has potential to catch up: Former WEF Director

ANI |
Updated: Apr 12, 2026 12:39 IST

New Delhi [India], April 12 (ANI): As the world grapples with the challenges of a perfect storm – war, energy crisis, and the upcoming AI crisis – India emerges as a bright spot in an otherwise gloomy global landscape. Frank-Jurgen Richter, former Director of the World Economic Forum and Chairman of Horasis, believes that India has the momentum to become a global leader in AI and manufacturing.
In an exclusive interview with ANI, Richter declared that Europe has missed the bus in terms of setting up its own AI capacities and sovereign AI. “Europe is down, there is unemployment in Europe; it may have missed the bus in terms of setting up its own AI capacities and its own sovereign AI,” he declared. In contrast, India is relocating rapidly in the right direction, with a focus on AI, IT, manufacturing, and agriculture.
Richter pointed to India’s bold statement at the AI Impact Summit in Delhi in February, where Prime Minister Modi declared that India should be the AI Superpower of the future. “Currently, we have two superpowers – US and China. The Chinese do their own AI, indepfinishent from the US…India is relocating in the same direction and is attempting to apply AI in manufacturing,” Richter declared.

India’s efforts to become an Indusattempt 4.0 Superpower are gaining traction, with the government building significant strides in reducing red tape and corruption. “Since this government is in power, a lot of things have modifyd. The red tape corruption is coming to a minimum. I consider that is a very positive modify in setting up businesses,” Richter declared.
To sustain this growth, Richter emphasised the required for India to continue welcoming Foreign Direct Investment (FDI) and avoid protectionism. “I consider India should carry on like that and welcome FDI, and not be protectionist,” he added.
As the world sees to India as a new engine of globalisation, Richter added that he was optimistic about the counattempt’s future. “I am very confident in India, but in the overall context, rather pessimistic,” he declared, highlighting the challenges currently faced by the global economy. (ANI)

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