Indian gov't approves 1.25 bln USD investment in AI projects

NEW DELHI, March 7 (Xinhua) -- The Indian government on Thursday approved a 1.25 billion U.S. dollar investment in artificial intelligence (AI) projects, officials said.

"In furtherance to the vision of Making AI in India and Making AI Work for India, the cabinet chaired by Prime Minister Narendra Modi has approved the comprehensive national-level IndiaAI mission with a budget outlay of 1.25 billion U.S. dollars," the government said in a statement.

According to the government, the IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through strategic programs and partnerships across the public and private sectors.

"By democratizing computing access, improving data quality, developing indigenous AI capabilities, attracting top AI talent, enabling industry collaboration, providing startup risk capital, ensuring socially impactful AI projects and bolstering ethical AI, it will drive responsible, inclusive growth of India's AI ecosystem," the government said.

The mission will be implemented by the IndiaAI Independent Business Division under Digital India Corporation.

"The approved IndiaAI Mission will propel innovation and build domestic capacities to ensure the tech sovereignty of India. It will also create highly skilled employment opportunities to harness the demographic dividend of the country," the government said.