Union minister for railways, information & broadcasting, electronics & IT Ashwini Vaishnaw, during the Bloomberg New Economy Forum in Singapore today, said social media platforms should take responsibility for what they publish, to strengthen trust levels in society.

He said everybody is worried about the significant influence social media is having on trust between institutions and citizens. "That trust is getting broken because of defects, synthetic material circulating online, and rumours that get amplified at the speed of light. All of this is worrying. Social media platforms must take responsibility for what they publish so that society at large is not harmed."

Speaking about the government's approach in this regard, the Union minister said the government takes a technological approach where both innovation and regulation are given priority. "For example, in our Data Protection Act, we decided on a principle-based law. Technology evolves every quarter, sometimes every month, and under such circumstances, you cannot have a very prescriptive law that scuttles innovation. We believe in a combination of innovation and regulation, with the tilt towards innovation, so that the good can reach society while the harm is addressed separately."

Viashnaw said the Indian government is deeply engaged with industry as well as civil society to get the right balance. "Every company operating in India must follow India’s Constitution and laws. Every platform must understand the social structure of the country in which it operates. How a platform reacts to circumstances, how it operates in diverse scenarios — that must be respected."

He said he would like to welcome all business leaders to the New Economy Forum in India next year.

Economy for high growth and moderate inflation: that is what India is going to be for the next many years. And that's a situation which every investor looks forward to, a situation where there is a stable policy regime, a lot of simplification happening, good growth, and very moderate inflation. Next year, I invite all of you to join us in New Delhi."

India is the fastest-growing economy in the world. India’s GDP growth in the June-end came in at a five-quarter high of 7.8%, primarily due to a boost in manufacturing, services and construction. Global multi-lateral agencies like the International Monetary Fund (IMF) have raised India's GDP growth forecast for 2025 to 6.6% from 6.4% in its previous economic outlook forecast, attributing it to strong growth, which has offset the impact of US tariffs. The World Bank raised India's GDP growth forecast to 6.5% for FY26 from its earlier projection of 6.3% in June, attributing it to the country's resilient domestic demand, backed by rural recovery.