India Announces $1.2 Billion Investment in AI Projects

In a significant move, India granted approval on Thursday for a substantial investment of 103 billion rupees ($1.25 billion) in artificial intelligence projects. The allocation aims to foster the development of computing infrastructure and the creation of extensive language models, as outlined by the government.

This substantial funding is not limited to infrastructure; it will also be channelled into supporting AI startups and facilitating the creation of AI applications for the public sector, as detailed in an official government statement. The decision reflects a strategic commitment to bolstering India's presence and capabilities in the rapidly evolving field of artificial intelligence.

The government's initiative aligns with the projected growth of India's artificial intelligence market, anticipated to reach $17 billion by 2027. Industry experts from the IT sector, such as Nasscom, estimate an annualized growth rate ranging between 25% and 35% during the period from 2024 to 2027. This underscores the country's recognition of AI's transformative potential and the importance of strategic investments to harness its benefits.

As the global landscape increasingly prioritizes technological advancements, India's investment signals its intention to be at the forefront of AI innovation. The multifaceted approach, spanning infrastructure, startup support, and public sector applications, emphasizes a comprehensive strategy to position India as a key player in the expanding AI domain.

भारत ने AI परियोजनाओं में 12 अरब रुपये का निवेश किया।

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