Government to Support AI Startup Financing in India: Minister Chandrasekhar
Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology (MeitY), emphasized India's crucial position in its artificial intelligence (AI) progression during the Global AI Conclave in Bengaluru. He underscored India's capacity in AI, stating, "AI is poised to significantly enhance our flourishing economy... We understand the requisites for fostering AI's growth in India".
Addressing inquiries about a potential performance-linked incentive (PLI) scheme to stimulate investment in India's AI ecosystem, Chandrasekhar mentioned that such extensive resources were not currently required. He referenced the semiconductor mission, stating, "We do not require anything remotely close to the resources needed for the semiconductor mission for AI".
The minister anticipated significant growth in India's technology sector, highlighting the government's aspiration for India to assume a leading role in global AI utilization. "We have laid out the blueprint for our innovation ecosystem to excel and emerge as a dominant player in AI", Chandrasekhar added. The Global AI Conclave, hosting over 16 sessions with policymakers, thought leaders, and global experts, focused on AI's transformative impact across various industries. Discussions covered topics including enterprise AI adoption, AI's role in cybersecurity, and its influence on shaping the nation's future.
