Indian Government approves Rs 10,000 crore for AI Ecosystem Development

By siliconindia  |  Friday, 08 March 2024, 08:35:32 AM IST

Indian Government approves Rs 10,000 crore for AI Ecosystem Development
In a significant move to advance the "Making AI in India" and "Making AI Work for India" initiatives, the Narendra Modi government has approved a comprehensive national-level IndiaAI Mission. This mission aims to leverage the potential of artificial intelligence (AI) for the development of the country. The announcement was made by Union Minister Piyush Goyal during a cabinet briefing.
The IndiaAI Mission receives a significant budget allocation of Rs 10,371.92 crore, showcasing the government's dedication to fostering AI-driven initiatives and innovation across multiple sectors. This initiative underscores the significance of harnessing AI technologies to tackle societal issues, stimulate economic expansion, and propel India towards becoming a frontrunner in AI research, development, and implementation on the global stage.
The objective of the IndiaAI Mission is to establish a comprehensive ecosystem that facilitates AI innovation through strategic initiatives and partnerships involving both the public and private sectors. By endeavors such as making computing more accessible, improving data integrity, cultivating domestic AI proficiency, attracting top-tier talent, fostering industry collaboration, facilitating startup investment, endorsing socially impactful AI endeavors, and reinforcing ethical guidelines, the mission aims to promote responsible and inclusive growth within India's AI landscape.
With approval from the Centre, the IndiaAI Mission is poised to stimulate innovation and foster indigenous capacities, ensuring India's technological sovereignty. Moreover, it will create a multitude of high-skilled employment prospects, capitalizing on the nation's demographic dividend. By demonstrating the societal advantages of AI utilization and enhancing its international competitiveness, the IndiaAI Mission aims to establish India as a frontrunner in harnessing revolutionary technologies.
According to an official statement released to the media, the IndiaAI Mission's execution will be supervised by the IndiaAI Independent Business Division (IBD) under the Digital India Corporation (DIC). The mission is geared towards promoting innovation and nurturing domestic capacities. Furthermore, the release mentions that the IndiaAI Innovation Centre will be responsible for developing and implementing indigenous Large Multimodal Models (LMMs) and domain-specific foundational models in vital sectors.

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