Investments in Innovation and AI Shape India's Future: PM Modi
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Synopsis
On March 5, PM Modi emphasized the crucial role of innovation and AI investments in shaping India's future. He highlighted the potential of AI to boost the economy significantly while creating millions of jobs, alongside various initiatives aimed at promoting research and startups.
Key Takeaways
- Importance of investments in innovation.
- AI's potential to enhance India's economy.
- Creation of a National Large Language Model.
- Support for startups through budget measures.
- Establishment of a National Gene Bank for food security.
New Delhi, March 5 (NationPress) The future of the nation is determined by investments in innovation, Prime Minister Narendra Modi stated on Wednesday, emphasizing that artificial intelligence (AI) has the capacity to not only contribute several lakh crore rupees to India's economy but also create millions of jobs.
He noted the allocation of Rs 500 crore in the Union Budget for AI-driven education and research.
Discussing plans to launch a National Large Language Model to enhance AI capabilities in India, the Prime Minister encouraged the private sector to maintain a competitive edge on the global stage.
"The world awaits a reliable, safe, and democratic nation that can deliver economical AI solutions," he remarked during a post-Budget webinar, stressing that investments made in this sector today will offer substantial benefits in the future.
"India has emerged as the third-largest startup ecosystem globally," PM Modi said, adding that various measures have been introduced in this budget to support startups.
He mentioned the approval of a Rs 1 lakh crore corpus fund to stimulate research and innovation, which will boost investments in emerging sectors through the ‘Deep Tech Fund of Funds’.
The Prime Minister highlighted the provision of 10,000 research fellowships at IITs and IISc, which will encourage research and provide opportunities for talented youth.
The importance of the National Geo-spatial Mission and the National Research Foundation in fostering innovation was also mentioned during PM Modi’s address in the webinar.
Emphasizing the significance of the Gyan Bharatam Mission in safeguarding India's rich manuscript heritage, PM Modi announced that over one crore manuscripts will be digitized under this mission, leading to the establishment of a National Digital Repository.
"This repository will allow scholars and researchers worldwide to access India's historical, traditional knowledge and wisdom," PM Modi added.
The Prime Minister also discussed the creation of a National Gene Bank to preserve India's plant genetic resources, stressing that this initiative aims to secure genetic resources and food security for future generations.
Referring to the impressive observations made by the IMF regarding India's economy in February, PM Modi noted that between 2015 and 2025, India's economy has experienced a 66 percent growth, transforming it into a $3.8 trillion economy.
The Prime Minister asserted that this growth outpaces that of numerous major economies, and that the day is near when India will achieve a $5 trillion economy.
