According to Nirmala Sitharaman, Union Minister of Finance, India is not only at the forefront of artificial intelligence (AI) adoption but is also actively shaping AI governance.
Speaking at the sixth convocation of the Indian Institute of Information Technology (IIIT) Kottayam, she highlighted that India is well-prepared for AI, with a strong demand for AI-driven solutions. This is reflected in the country’s 3 billion AI-related app downloads in 2024, surpassing the US and China, which recorded 1.5 billion and 1.3 billion downloads, respectively.
Sitharaman further noted that India’s position as co-chair at the recent AI Action Summit in Paris underscores its global standing in the sector. At the summit, the Prime Minister emphasised that AI is not just a matter of national interest but a global responsibility.
She also outlined key government initiatives in AI, particularly the India AI mission, which has been launched with a budget of Rs 103 billion. This initiative aims to build computing infrastructure, develop indigenous AI capabilities, attract global AI talent, and support AI startups.
The finance minister also highlighted India’s progress in innovation and patenting. She pointed out that India has climbed to the 39th position in the Global Innovation Index in 2024, improving from 81st in 2015. Additionally, the country’s patents-to-GDP ratio, which reflects the economic impact of patent activity, has risen to 381 in 2023 from 144 in 2013, marking significant advancements in innovation.
Further, Sitharaman concluded by stating that while India is on the right path, continuous efforts are needed to enhance its performance in AI and innovation.
