In a significant step towards encouraging artificial intelligence (AI) development in the country, the Union Cabinet last week approved the IndiaAI Mission with an outlay of Rs 10,372 crore for the next five years. The objective is to "ensure a structured implementation of the IndiaAI Mission through a public-private partnership model aimed at nurturing India’s AI innovation ecosystem". No doubt, this is a much welcome step.

Under the mission, a sophisticated scalable AI computing infrastructure will be erected by establishing over 10,000 Graphics Processing Units through public-private collaborations. Experts point out that the mission will help India establish a foothold in the budding AI ecosystem. AI startups will benefit from “streamlined access to funding” while the program also includes funding provision for AI projects working for fostering social impact, propelling innovation and entrepreneurship.

The India Inc. has heartily welcomed the mission, calling the move a step towards making India a global leader in harnessing the potential of AI. The IndiaAI Mission is a comprehensive step towards establishing a robust AI ecosystem. It will provide a strategic roadmap for the coming years ahead. Also, it will - besides helping AI startups by means of support and funding -- also give a fillip to the whole startup ecosystem. The overall economy will benefit as well.

For quite some time now, the government has taken some concrete steps - including approval for three chip manufacturing projects worth Rs 1.26 lakh crore – to bolster semiconductor manufacturing in the country. In the last few years, mobile manufacturing too witnessed noteworthy expansion. The government is also targeting a five-fold increase in India’s share of the global space sector. These development signal to our growing stature in the global economy.

I invite your opinions.