The minister further cited the NASSCOM AI Adoption Index, which places india at an enthusiast level with a score of 2.45 out of 4. This score underscores the nation’s growing enthusiasm and potential in AI adoption, with the Industrial & Automotive, Consumer Packaged Goods (CPG) and Retail, banking Financial services & Insurance (BFSI), and Healthcare sectors leading the charge, he said. Together, these sectors are expected to contribute nearly 60 per cent of AI’s projected $500 billion value-add by FY2026.
The parliament was also informed about the government’s strategic investments to promote AI innovation. The Union Budget for 2024-25 has earmarked Rs 21,936.90 crore for the Ministry of Electronics and Information technology (MeitY), with a significant portion directed towards the IndiaAI mission.Specifically, Rs 551.75 crore has been allocated to advance AI research and applications, demonstrating the government’s commitment to positioning india as a global leader in AI. Additionally, Rs 255 crore has been set aside for the establishment of three Centres of Excellence (CoEs) in AI, further solidifying India’s AI infrastructure.
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