The Economic Survey highlights AI's potential to revolutionize decentralized finance, IoT, and digital payments, positioning India as a leading fintech nation. With a vision to lead in fintech adoption rates, India aims to cultivate a thriving ecosystem supported by robust digital infrastructure.
As a founding member of the Global Partnership on AI (GPAI), India is actively contributing to global AI governance. Domestically, the government has allocated over Rs 10,300 crore to the IndiaAl Mission, aiming to democratize access to AI innovations and bolster India's competitiveness on the global stage.
India's attractiveness for AI investments is underscored by its cost-efficiency and a large pool of skilled professionals in AI, machine learning, and big data, as noted by Nasscom. However, the survey also acknowledges the potential disruptions AI could bring to the labor market, urging for responsible deployment to mitigate socio-economic impacts.
India's pursuit of AI and fintech leadership reflects not only technological ambition but also a commitment to harness innovation for inclusive prosperity. With strategic initiatives and partnerships, India aims to propel its economy forward, fostering sustainable growth and global competitiveness in the process.
FIRST Business Portal addressing the potential of business capability of North East Region.
