India Eyes $200B AI Investment Boom, Says Minister Vaishnaw

"There are two types of interest. The first type is investment. There is an expectation of more than 200 billion dollars in investment over the next two years. The second type is deep tech funding by VC. And the third type is India's innovativeness and India's digital public infrastructure," Vaishnaw told ANI on the sidelines of the Summit at Bharat Mandapam in the national capital.

Elaborating on the role of technology frameworks in driving adoption, he added, "Because of the digital public infrastructure, there is a very good technology framework under the leadership of the Prime Minister. Because of this framework, the diffusion of AI in India can be accelerated. This is what everyone believes."

The minister said global CEOs are displaying keen interest in investing in India, particularly in deep tech startups and infrastructure.

"A lot of interest in investing in India, especially in the Indian deep tech startups, in the infra, also 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, that brings out a huge advantage for any solution which needs to be brought at a population scale," he said.

Speaking about the scale and enthusiasm at the summit, Vaishnaw noted the overwhelming participation, especially among young people.

"There is a lot of excitement in AI Summit. More than 300,000 youth and researchers and students have registered. And all the sessions are going full. They are houseful. There is a lot of excitement, And especially among the youth. Through this summit, there is a new energy all over the country. By using AI, how to solve big problems on a population scale, such excitement is seen here among the youth," he said.

He stressed the importance of solving big problems in the economy and society and at the same time stop the harms of the technology. "By balancing these two, we have to move forward with this new technology," he noted.

The India AI Impact Summit has brought together policymakers, global industry leaders, investors and innovators, with discussions centered on leveraging AI for large-scale economic and social transformation while addressing potential risks associated with the technology.

On Thursday, the Prime Minister is scheduled to deliver the inaugural address, setting the tone for enhanced global cooperation and advancing India's vision for inclusive, trusted, and development-oriented artificial intelligence.

- ANI