According to the government, India on Thursday approved a 103 billion rupee ($1.25 billion) investment in artificial intelligence projects, including the building of big language models and processing infrastructure.
The government stated in a statement that the funds will also be utilized to support AI companies and create AI applications for the public sector.
The IT industry association Nasscom projects that India’s artificial intelligence market would reach $17 billion by 2027, expanding at an annualized rate of 25%–35% between 2024 and 2027.
($1 = 82.6980 Indian rupees)
