India Announces ₹10,000-Crore AI Mission to Boost Startup Ecosystem

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Posted by pallavi on 2024-08-09 07:24:10 |

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Government Invests in AI Infrastructure and Support for Startups

On Thursday, the Union Cabinet approved a significant ₹10,372-crore allocation for the India Artificial Intelligence (AI) Mission, aimed at bolstering AI development over the next five years. This investment will enhance computing infrastructure through public-private partnerships and support the startup ecosystem by providing critical resources and funding.

Arvind Kumar, Director General of Software Technology Parks of India (STPI), emphasized the importance of this allocation for startups across various industries. He highlighted that the funding would facilitate the creation of a GPU marketplace, addressing the long-standing need for affordable and accessible high-performance computing resources. Kumar noted that this initiative is a crucial step towards making AI a pervasive tool across all sectors and industries in India.

The India AI Mission will also subsidize private sector efforts to establish AI compute capacity, support AI startups with seed funding, and develop frameworks for managing non-personal data. The mission aims to foster innovation and elevate India’s AI capabilities, potentially leading to the development of indigenous GPUs in the coming decades.

The initiative represents a major commitment to advancing AI technology and infrastructure in India, with the goal of positioning the country as a global leader in AI research and application.

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