IndiaAI Mission gets Cabinet nod, Rs 10,372 crore allocated

New Delhi, March 7

The Union Cabinet today has approved an allocation of over Rs 10,372 crores for the “India Artificial Intelligence Mission” today.

Union Commerce Minister Piyush Goyal, who announced the scheme, said this financial infusion is slated over the next five years and added that the IndiaAI Mission will have multiple aspects like computing, innovation centres, data platform, future skills, etc.

This will be through public-private partnership model aimed at nurturing India’s AI innovation ecosystem. Some 10,000 graphics processing units (GPUs) will be set up.

This financial outlay will fortify the IndiaAI Startup Financing mechanism, facilitating streamlined access to funding for budding AI startups and catalysing their journey from product development to commercialisation. The proposal also includes funding provisions for industry-led AI projects aimed at fostering social impact, propelling innovation and entrepreneurship.

The IndiaAI Innovation Centre (IAIC) which will set up to spearhead the development and deployment. Aligned with the broader vision of the IndiaAI Mission, these initiatives aim to bolster India’s global leadership in AI, foster technological self-reliance and ensure responsibility.

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, said this approval will benefit Indian citizens and contribute to the expansion of India’s economy.