Union Electronics and IT Minister Ashwini Vaishnav said at the India AI Impact Summit on Tuesday that India expects investments of over US$200 billion over the next two years, reflecting strong global interest in the country’s AI and deep tech ecosystem.
“There are two types of interest. The first type is investment. More than $200 billion is expected to be invested in the next two years. The second type is deep tech funding by venture capital. And the third type is India’s innovation capability and India’s digital public infrastructure,” Vaishnav told ANI on the sidelines of the summit held at Bharat Mandapam in the national capital.
Elaborating on the role of technology framework, he said, “Because of the digital public infrastructure, there is a very good technology framework in place under the leadership of the Prime Minister. Thanks to this framework, the proliferation of AI in India can accelerate. This is what everyone believes.”
The minister said global CEOs are showing keen interest in investing in India, especially in deep tech startups and infrastructure.
He said, “There is a lot of interest in investing in India, especially in Indian deep tech startups, in infrastructure, as well as in finding new solutions at population scale. Because the way our honorable Prime Minister Narendra Modi has created this digital public infrastructure in our country, there is a huge benefit for any solution that is implemented at population scale.”
Talking about the scale and enthusiasm of the summit, Vaishnav noted the tremendous participation, especially among the youth.
He said, “There is a lot of excitement about the AI Summit. More than 3 lakh youth, researchers and students have registered. All the sessions are completely packed. There is tremendous enthusiasm in every session, especially among the youth. There is a new energy in the entire country through this summit. There is tremendous enthusiasm among the youth on the topic of how to solve big problems at the population level using AI.”
He stressed the importance of solving major problems of the economy and society as well as preventing the harmful effects of technology. He said, “Only by striking a balance between these two can we move forward with this new technology.”
The India AI Impact Summit brought together policymakers, global industry leaders, investors and innovators, where the discussions focused on leveraging AI to drive large-scale economic and social change and addressing the potential risks associated with this technology.
On Thursday, the Prime Minister will deliver the inaugural address, which will set the tone for enhancing global collaboration and taking forward India’s vision for inclusive, trusted and growth-oriented artificial intelligence.
