India to lead world in AI capabilities: PM Modi on startup Mahakumbh

Prime Minister Modi said “We are in a new era of artificial intelligence technology”

New Delhi:

Prime Minister Narendra Modi on Wednesday said India will lead the world in artificial intelligence capabilities and urged young entrepreneurs and start-ups to work on “Indian solutions for global applications” to solve problems faced by countries around the world. challenge.

Addressing the Startup Mahakumbh, Prime Minister Modi said that the three missions on artificial intelligence, semiconductors and quantum launched by the government earlier will create employment opportunities for youth and create investment opportunities for global investors.

“We are in a new era of artificial intelligence technology and the world recognizes that India will have the upper hand in artificial intelligence. Our priority now is to ensure that we do not pass up this opportunity,” he said.

Artificial intelligence offers endless possibilities to young innovators and global investors. “Leadership in AI capabilities will and should continue to be in the hands of India… I believe the ethos of ‘India Global Applied Solutions’ will be a force… Solutions from Indian innovators will Solving problems for many countries,” Prime Minister Narendra Modi said.

Speaking at Startup Mahakumbh. Driven by the innovative spirit of Yuva Shakti, India’s entrepreneurial ecosystem is booming at an unprecedented pace.https://t.co/IP4NymH1h8

— Narendra Modi (@narendramodi) March 20, 2024

Prime Minister Modi recalled that in his address to the US Senate last year, he had mentioned that India would continue to be a leader in artificial intelligence.

The Prime Minister is also confident that his government will deliver a full budget after the upcoming election.

He said that with the emergence of the artificial intelligence industry, a lot of employment opportunities are being created for young innovators and investment opportunities for global investors, and mentioned the National Quantum Mission, Indian Artificial Intelligence Mission and Semiconductor Mission.

The Union Cabinet had earlier approved the National Quantum Mission, which aims to develop medium-sized quantum computers with 50-1,000 physical qubits within 8 years on various platforms such as superconducting and photonic technologies.

The Prime Minister said that India has decided to invest hundreds of millions of rupees to establish a National Research Foundation and is preparing to establish better financing mechanisms for start-ups.

“The country has decided to set up a National Research Foundation with an investment of hundreds of millions of rupees… An allocation of rupees 100 crore has been announced in the interim budget for research and innovation. This will help in long-term research in sunrise fields,” PM Modi said .

The prime minister said that in 2014, the number of start-ups in the country was less than 100, while now the number of start-ups in the country is around 1.25 lakh.

“Around 1.2 million young people are directly connected to them. We have over 110 unicorn companies. Over 12,000 patents have been filed by our startups,” PM Modi said.

The Prime Minister said he is using artificial intelligence technology for his campaign and sharing his statements in Tamil, Telugu and other languages.

The union cabinet has approved a Rs 10,000-crore plan for India’s Artificial Intelligence Mission, which will be used to build computer infrastructure and provide funding and other support to startups for innovation. He said India’s youth are now becoming job creators instead of job seekers.

The Prime Minister asked startups to apply for patents quickly, otherwise others will start exploiting their innovations.

He said startups’ business in the government e-market has exceeded Rs 20,000 crore.

The Prime Minister also noted that financial start-ups have benefited a lot from UPI and financial inclusion has also gained strength from the use of technology.

“The country has been able to close the urban-rural gap. Across the world, when digital advancement started, people were worried. The theory of haves and have-nots was associated with it. People talked about social divide. India has democratized technology. So, Both rich and poor people cannot work here. We provide everything to everyone,” PM Modi said.

More than 45% of startups are led by women, he said, adding that a culture of innovation is important not only for Viksit Bharat but also for a better future of the world.

He called on unicorns to support new ideas with the same support they received when they were growing up. They should also visit educational institutions and Atal Tinkering Labs as mentors.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)