India's US$1.2B AI Investment: Catalysing Growth and Innovation

India approves US$1.2 billion investment in AI projects, focusing on computing infrastructure and large language models. Funding will also support AI startups and the development of AI applications for the public sector.India's AI market projected to reach US$17 billion by 2027, growing at an annualised rate of 25%-35%.

India has recently given the green light to a significant investment of 103 billion rupees (US$1.2 billion) in artificial intelligence (AI) projects. The government aims to utilise this funding to develop computing infrastructure, foster the growth of large language models, and support AI startups. Additionally, the investment will be directed towards creating AI applications for the public sector, as stated by the government in an official statement.

The Indian government's decision to allocate such a substantial amount of funds to AI projects reflects the country's commitment to harnessing the potential of this transformative technology. With the projected growth of India's AI market estimated to reach US$17 billion by 2027, at an annualised rate of 25%-35% between 2024 and 2027, according to IT industry body Nasscom, this investment is poised to drive significant advancements in the field.

India approves US$1.2 billion investment in AI projects, focusing on computing infrastructure and large language models.
Funding will also support AI startups and the development of AI applications for the public sector.
India's AI market projected to reach US$17 billion by 2027, growing at an annualised rate of 25%-35%.

Source: REUTERS