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The country has the talent pool, apart from being the 'youngest and largest' democracy with freedom of expression which China will "normally not like" in Indian lifestyle, he said.
He also listed out certain "trends" in the global economy like Chinese manufacturing capabilities and Walmart supply chain efficiency that are said to have brought down the costs, apart from 'e-commerce wave' and 'digital wave'.
"I feel that the next wave of change will be creativity. Algorithm could only get you this far. The cutting edge in the global economy will come from creativity...We have to rise up to the occasion," the technocrat said.
Underlining the country's "rich history" in creativity, the Prasar Bharati CEO said India has been successful in introducing many things to the world over the centuries like Sanskrit language, Yoga etc.
"What will make the difference will be creativity, engineering of human mind. So we may not be able to catch up with China on artificial intelligence or the automation part, but let us create the future with creativity," he asserted.
Vempati also had a word of praise for highest grossing Indian films "Baahubali" and "Dangal".
"The films proved that Indian creativity has a global market with their stupendous success in foreign countries. Thus, we do not have to limit our aspirations," he said.
Stressing on the "huge market for creativity", the Prasar Bharati CEO said three to four free-to-air Doordarshan channels feature among the top ten channels in the country, adding that the DD channels have more viewership than other flagship channels.
He also noted that Doordarshan News had the largest audience of English television news.
Vempati added that the real potential for creative content was in rural India, especially in regional languages.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)