The Indian government has taken a significant step towards fostering the country’s Artificial Intelligence (AI) ecosystem with the approval of the INR103.7192 billion AI Mission. This mission aims to propel India into the forefront of AI innovation and catch up with leading countries in the field.
According to the Press Information Bureau, the Union Cabinet of India has approved the AI Mission with a substantial outlay of InR103.7192 billion over the next five years. The mission will be spearheaded by the “IndiaAI” Independent Business Division under the Digital India Corporation.
The AI Mission is designed to create a comprehensive ecosystem that accelerates AI innovation through strategic initiatives and collaborations across the public and private sectors. It aims to democratize access to computing, enhance data quality, develop indigenous AI capabilities, attract top AI talent, foster industry partnerships, provide startup funding, promote socially impactful AI projects, and strengthen ethical AI practices. The ultimate goal is to foster responsible and inclusive growth within India’s AI landscape.
The AI Mission is composed of seven key components, including IndiaAI Compute Capacity, IndiaAI Innovation Center, IndiaAI Datasets Platform, IndiaAI Application Development Initiative, IndiaAI Future Skills, IndiaAI Startup Financing, and Safe & Trusted AI. These components will work together to support deep-tech AI startups, provide streamlined access to funding, and facilitate the development of futuristic AI projects.
Piyush Goyal, the Minister of Commerce of India, highlighted the creation of a multi-faceted comprehensive framework to support and accelerate deep-tech AI startups. He emphasized the importance of providing these startups with the necessary resources to drive innovation in the AI space. Additionally, India plans to establish two or three innovation centers to focus on developing domain-specific Large Language Models (LLMs).
Yogendra Goyal, the Chief Technology Officer at Kuhoo Fintech, praised the government’s initiative, likening the current AI era to the early days of the computer revolution. He expressed confidence that the AI Mission will empower startups and SMEs to create groundbreaking innovations.
With approximately 3,000 deep-tech startups currently operating in India, the AI Mission comes at a crucial time when only a small percentage of these startups have access to adequate financial support. The approval of the INR103.7192 billion AI Mission signals a significant investment in India’s AI future and sets the stage for a new era of AI innovation in the country.