Government Initiatives in Boosting AI Companies in India 2024

Key initiatives by the Indian government to boost AI companies in India in 2024

The Indian government has been actively involved in fostering the growth of artificial intelligence (AI) in the country through various initiatives. These initiatives aim to promote the nationwide application of AI in different fields and to bridge the gap between the demand and supply of AI talent. Here are some key initiatives by the Indian government to boost AI companies in India in 2024:

1. AI Education Framework: The Indian government has designed a robust framework to impart AI education to Indian students, aiming to strengthen the AI talent pool and make students more employable by equipping them with the latest technology in high demand.

2. National AI Portal: The Ministry of Electronics and Information Technology (MeitY) has launched the India AI portal, which serves as a central hub for all AI-related developments and initiatives in India.

3. Applied AI Research Centre: In collaboration with Intel India, International Institute of Information Technology, Hyderabad (IIIT-H), and Public Health Foundation of India (PHFI), the Telangana government has launched an applied AI research centre in Hyderabad. This centre focuses on solving challenges in India's healthcare and other sectors.

4. MCA 3.0 Portal: The Ministry of Corporate Affairs (MCA) has revamped its portal, MCA 21, leveraging data analytics, AI, and machine learning to simplify regulatory filings for companies, aiming to promote ease of doing business and compliance monitoring.

5. Global Partnerships and Events: The Indian government has joined the Global Partnership on Artificial Intelligence (GPAI) as a founding member and organized events like Responsible AI for Social Empowerment (RAISE) to drive India's vision and roadmap for social transformation, inclusion, and empowerment through responsible AI.

6. NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC) – A scheme that seeks to promote knowledge-based and technology-driven start-ups by harnessing young minds and their innovation potential in an academic environment, in domains such as AI, computer vision, IoT, FinTech, nanotechnology, and more.

7. National Artificial Intelligence Mission– A mission that was proposed by NITI Aayog, the government think tank, to establish a national AI platform, create a network of AI centres, develop an AI workforce, and enable social sector applications of AI.