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AI Could Add $1.7 Trillion to India’s GDP by 2035, Says NITI Aayog Report
NITI Aayog: NITI Aayog and NITI Frontier Tech Hub have released a report on the role of AI in the Indian economy. According to the report, by adopting AI, India can increase its GDP from an estimated $ 6.6 trillion to $ 8.3 trillion by 2035. It says that to achieve a growth rate of eight percent, the country will have to promote both productivity and innovation on a large scale.
On Monday, NITI Aayog and NITI Frontier Tech Hub released a detailed report describing AI as a decisive tool for India's economy. This vision is shown in the report 'AI for Developed India: Opportunities for Accelerated Economic Growth'. According to the report, through the adoption of AI and changes in research and development (R&D), India can increase its GDP from an estimated $ 6.6 trillion to $ 8.3 trillion by 2035. It will be possible to cover almost half of the development gap with the help of AI.
Releasing the NITI Aayog AI report, Finance Minister Nirmala Sitharaman said that we do not want regulations that will kill innovation. She said that AI should help in providing solutions for better cities.
Union Minister Ashwini Vaishnav, on this occasion, said that AI is going to fundamentally change every aspect of life. He stressed the importance of India being a leader in developing and adopting AI technologies. The minister highlighted that AI has emerged as the biggest technological change in recent decades, and its impact will be similar to that of the Internet.
