‘India’s future is determined by investments in innovation, AI a game changer’: PM Narendra Modi

New Delhi: The future of the nation is determined by investments in innovation, Prime Minister Narendra Modi said on Wednesday, highlighting that artificial intelligence (AI) has the potential to not only contribute several lakh crore rupees to India’s economy but also generate millions of jobs.

He mentioned the allocation of Rs 500 crore in the Union Budget for AI-driven education and research.

Mentioning the plans to establish a National Large Language Model to develop AI capabilities in India, the Prime Minister urged the private sector to stay ahead of the global curve in this field.

“The world awaits a reliable, safe, and democratic nation that can provide economical AI solutions,” he added during a post-Budget webinar, emphasising that investments made in this sector today will yield significant advantages in the future.

“India has become the third-largest startup ecosystem in the world,” said PM Modi, adding that several measures have been introduced in this budget to promote startups.

He mentioned the approval of a Rs 1 lakh crore corpus fund to boost research and innovation, which will increase investments in emerging sectors through the ‘Deep Tech Fund of Funds’.

The Prime Minister noted the provision of 10,000 research fellowships at IITs and IISc, which will foster research and provide opportunities for talented youth.

The role of the National Geo-spatial Mission and the National Research Foundation in accelerating innovation was also touched upon during PM Modi’s speech during the webinar. (IANS)

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