India is quickly rising to the top of the list for significant investments in artificial intelligence. The most powerful corporations in the world, including Big Tech giants like Amazon, Google, Microsoft, and others, are lined up at India’s door to place enormous bets on the nation’s youthful population and potential for digital innovation.
The nation is ideal for AI-driven growth because of its youthful and expanding population and the accessibility of inexpensive data.
Despite legislative obstacles and fierce local rivalry, the most populous nation in the world continues to be a high-growth market for major US internet companies like Amazon and Alphabet Inc.’s Google.
Amazon
In an effort to strengthen its relationship with one of its biggest international markets, Amazon said on December 10 that it will invest $35 billion in the nation by 2030. The massive e-commerce company intends to grow its cloud computing and rapid commerce operations by investing in critical areas like artificial intelligence and logistics infrastructure. According to Amit Agarwal, SVP, Emerging Markets at Amazon, the investments would probably generate an extra 3.8 million direct and indirect employment in the nation by 2030.
Microsoft
Satya Nadella, the CEO of Microsoft, a Big Tech rival of Amazon, met with Prime Minister Narendra Modi on December 9 and promised to invest $17.5 billion by 2029—the company’s largest commitment in Asia.
The CEO of Microsoft claims that India’s “virtuous cycle” for technology, which involves market and policy, is “magic.”
It stated that the investment will support Microsoft’s ongoing operations throughout the nation, including its workforce of more than 22,000 workers spread throughout Bengaluru, Pune, Hyderabad, Gurugram, Noida, and other cities, as well as its development into the cloud and artificial intelligence. Additionally, the company is attempting to advertise Copilot, an AI assistant that students may use for free.
Google stated earlier in October that it will invest $15 billion to build a massive AI hub in Visakhapatnam, Andhra Pradesh. This will be the company’s largest investment outside of the United States to date.
According to Google, the facility would be the first gigawatt-scale data center complex in India, integrating its AI technology and data centers with renewable energy capabilities. By 2030, the investment may generate up to one lakh employment.
OpenAI, Cognizant, and Intel
Recently, Tata Electronics secured Intel as a potential buyer of its chip facilities, which significantly boosted local semiconductor production, which is seen to be the primary driver of artificial intelligence. The deal demonstrates Intel’s faith in India’s capacity to produce chips.
Tata announces a $14 billion semiconductor venture with Intel as a key client.
Additionally, Ravi Kumar, the CEO of the massive IT company Cognizant, met with PM Modi and pledged support for India’s AI First project. The business has revealed intentions to boost talent development and AI usage.
Additionally, according to several sources, OpenAI is in negotiations with Tata Consultancy Services to start its India branch of Stargate, the ambitious AI project of ChatGPT. Additionally, OpenAI is providing Indian consumers with a complimentary one-year membership to ChatGPT Pro.
India’s wager on the future
Additionally, the nation’s central government has increased its efforts to advance AI. With a budget of more than Rs 10,000 crore, the Center authorized the IndiaAI Mission last year. In order to promote innovation in the sector instead of “heavy-handed regulation,” the IT ministry published its new AI governance rules in November. The Center also announced the creation of a Center of Excellence in AI for Education to advance the nation’s research capacities and train a workforce prepared for AI. In 2021, the
To entice investments in the sector, a number of state governments, such as Telangana and Andhra Pradesh, have also developed their own AI roadmaps.
Bharti Airtel and Jio jump on the AI bandwagon
Local corporate giants may not stay far behind as international businesses go to India to gain from AI-driven growth.
Millions of Indians now have access to AI thanks to Reliance Jio and Bharti Airtel, two of the biggest telecom companies, offering free memberships to Gemini Pro and Perplexity Pro along with their respective data plans.
