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Union Finance Minister Nirmala Sitharaman has called for greater investment in artificial intelligence, semiconductors, and quantum technology, describing these areas as India's next major frontier.
Speaking at a fireside chat organized by the IIT Madras Alumni Association, Sitharaman said India needs to accelerate efforts to build the hardware, skills, and institutional ecosystem required to harness these emerging technologies.
Sitharaman said that while AI activity is growing in India, international media coverage often creates a perception that the country has missed the AI bus.
She said this perception is partly shaped by the absence of a significant number of AI companies listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
"Things are happening in India in AI, but the magazines and newspapers are largely from abroad -- Oh, India’s missed the AI bus," Sitharaman said.
The finance minister, however, pointed out that several AI startups have already become unicorns or are on the verge of becoming one.
Sitharaman also spoke about startups' reluctance to list on stock exchanges. She said startups, in general, tend to be wary of listing given the many compliance requirements they must meet.
At the same time, she emphasized that listing brings its own advantages.
The comments come as India seeks to expand its capabilities across emerging technologies, with investment in AI infrastructure, semiconductor manufacturing and quantum technology becoming an important part of the broader technology ecosystem.
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The finance minister stressed that India’s efforts need to extend beyond software and applications. Building hardware, developing the required skills, and strengthening institutions will be important to harness AI, semiconductor, and quantum technologies.
Her remarks underline the need for greater investment across these areas as India seeks to build an ecosystem that can support emerging technologies and the companies working on them.
