India Sets Ambitious Goal for AI Investment by 2028
India is poised to usher in an era of artificial intelligence innovation, targeting upwards of $200 billion in investment for AI infrastructure by the year 2028. This initiative aims to establish the nation as a preeminent center for AI computing and applications on the global stage.
The ambitious blueprint was articulated by Ashwini Vaishnaw, India’s Minister of Information Technology, during the AI Impact Summit in New Delhi, an event supported by the government.
The summit spanned five days, attracting high-ranking executives from renowned technology firms, including OpenAI, Google, and Anthropic.
A substantial portion of the anticipated investment will be channeled into AI infrastructure, particularly in data centers and semiconductor systems.
This figure encompasses approximately $70 billion already pledged by leading U.S. tech giants such as Amazon, Google, and Microsoft, aimed at enhancing AI and cloud infrastructure within India.
Beyond infrastructure, the government foresees an additional influx of around $17 billion earmarked for deep-tech startups and AI-driven applications.
Government-Backed Venture Program of $1.1 Billion
To facilitate this endeavor, New Delhi is offering a suite of incentives, including tax breaks, state-sponsored venture capital, and regulatory frameworks designed to draw a greater segment of the global AI supply chain.
A ₹100 billion (approximately $1.1 billion) government-supported venture initiative has been launched to endorse high-risk sectors such as AI and advanced manufacturing.
Additionally, the eligibility window for startups in deep-tech has been extended to 20 years, while the revenue cap for qualifying benefits has been elevated to ₹3 billion (around $33 million).
“We have observed venture capitalists committing significant funds to deep-tech startups. Additionally, we see investments flowing towards substantial solutions and applications.
There is ongoing support for pioneering research in avant-garde models,” Vaishnaw remarked during a press briefing occurring alongside the summit.
Moreover, India is set to augment its shared computing capacity through the IndiaAI Mission. Currently, the country possesses access to about 38,000 GPUs, with plans to add another 20,000 units in the forthcoming weeks.
Vaishnaw noted that the upcoming phase of the AI Mission will prioritize research and development, innovation, and broader accessibility to AI tools while continuing to expand computational capabilities.
Nonetheless, this strategy grapples with tangible challenges. The establishment of large-scale data centers necessitates a considerable supply of electricity and water, and infrastructural limitations could impede swift deployment.
Vaishnaw recognized these hurdles, citing India’s burgeoning clean energy capacity—now constituting more than half of the total installed power generation—as a prospective advantage as demand escalates.
Source link: Techfundingnews.com.
