India's Finance Minister calls for increased investment in AI and quantum computing

Union Finance Minister Nirmala Sitharaman stated that the perception of India lagging in artificial intelligence (AI) or quantum computing is inaccurate. Speaking at an IIT Madras Alumni Association event, she noted that many Indian AI startups are already unicorns or close to that status. Ms. Sitharaman called for greater investment in AI infrastructure, quantum computing, and semiconductor manufacturing as the next major growth frontiers.

The comments signal a push for accelerated development in high-tech sectors within India. Sitharaman emphasized that India needed to improve hardware, skills, and institutional capabilities to match global innovation speeds. A stronger presence of AI companies on stock exchanges could attract more international funding.