India earmarks $1.25B to boost growth of AI
Through the IndiaAI Mission, India aims to democratize access to computing power and support nationwide AI development.
India’s supreme decision-making body, the Union Cabinet, has approved the “IndiaAI Mission” with an initial budget of 10,300 crore rupees ($1.24 billion). The drive aims to support artificial intelligence (AI) startups and innovations over the next five years.
Through the IndiaAI Mission, the country aims to provide nationwide easy access to computing power — a crucial component for AI development and deployment — for innovators, startups, students and educational institutions. Union Minister Piyush Goyal announced the development on March 7 at a cabinet briefing. The supporting announcement read:
“The overarching aim of this financial outlay is to ensure a structured implementation of the IndiaAI Mission through a public-private partnership model aimed at nurturing India’s AI innovation ecosystem.”
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