Finance Minister Says India Is Not Behind in Artificial Intelligence

India has not missed out on artificial intelligence and quantum computing, Union Finance Minister Nirmala Sitharaman said on Saturday in Bengaluru. Speaking at the seventh annual conference of the IIT Madras Alumni Association, she noted that the idea that India is falling behind is mainly a false impression created by foreign media.

Stock Market Presence

This outside view exists largely because very few AI companies are listed on the National Stock Exchange or Bombay Stock Exchange. Many Indian AI startups have already crossed the billion-dollar valuation mark to become unicorns, or are very close to it. However, these young companies often avoid getting listed on the stock market because of strict rules and paperwork. Sitharaman explained that being on the stock market brings clear benefits, such as showing global investors that heavy work is happening locally and drawing more money from abroad.

Growth Sectors

India needs to push forward with heavy spending on artificial intelligence infrastructure, quantum computing, and chip manufacturing rather than slowing down. Sitharaman pointed out that the country requires much more funding for hardware and for teaching schools and teachers to upgrade their tech skills. Small and medium businesses across various industries also need to adopt artificial intelligence to work better and compete worldwide. Defence production, especially making unmanned systems and drones, offers another big chance for growth. With global defence makers struggling to keep up with fast tech changes, India has a clear opening to build its own strengths and enter expanding global markets.