India’s Rs 10,000 crore artificial intelligence mission fund has been compared to a “weekend expense” for OpenAI by Fractal Analytics co-founder Srikanth Velamakanni, raising questions about the adequacy of India’s investment in AI innovation.
India’s announcement of a Rs 10,000 crore AI mission fund has triggered industry debate on whether the scale matches global benchmarks. Speaking at a panel discussion, Velamakanni highlighted the disparity between India’s allocation and the spending power of leading AI firms.
Key Highlights
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India’s AI mission fund amounts to Rs 10,000 crore, aimed at fostering innovation and infrastructure
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Fractal CEO Srikanth Velamakanni likened the fund to a weekend expense for OpenAI, underscoring the gap in scale
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He advocated for an “India model” similar to Aadhaar and UPI, focusing on inclusivity and national ambition
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Panelists included leaders from Neysa and InMobi, who echoed the need for stronger infrastructure and vision
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The discussion emphasized that India must balance affordability with ambition to compete globally in AI
Sources: The Economic Times