Prime Minister Narendra Modi in Davos: Data is genuine riches

Davos [Switzerland] Jan 23 Prime Minister Narendra Modi on Tuesday said today data is the genuine riches.

The Prime Minister was conveying a keynote address at the opening session of the World Economic Forum's yearly gathering in the Swiss mountain resort of Davos.

"Today, data is a genuine riches and it is being said that whoever secures and controls the data will have hegemony in the future. The worldwide stream of information is making enormous open doors and in addition challenges," Prime Minister Modi said.

He included that innovation driven change has been profoundly influencing individuals' state of mind, working, universal gatherings, politics, and economy.

He made this comment while underlining the significance of innovation in the present time.

Discussing about social media, Prime Minister Modi stated, "The example of breaking, expansion, and contorting of innovation is being found as web-based social media."

He also made a comparison between World Economic Forum meeting in 1997 and 2018.

"In 1997, India's Prime Minister H.D. Deve Gowda went to the WEF meeting in Davos. That forum's vision was tied in with working of system society. At that point there was no Euro; not very many individuals thought about Osama bin Laden; Google was not invented, if somebody would seek Amazon on Internet at that point list items would toss data about waterways and backwoods. Tweeting was the work of birds," Prime Minister Modi said.

He included that the topic of this year's WEF is 'Making a Shared Future in a Shared World', which signifies "making shared future in a broke world".

"The balance of economic strength and political power is changing because of new changes and new powers," Prime Minister Modi included.

Prior, the Prime Minister got a standing applause as he touched base at the setting.