Big chunk of India AI Mission fund to go into AI compute
Mint Hyderabad|December 05, 2024
Forty-four percent of ₹10,371.92 crore earmarked for providing capacity of over 10,000 GPUs
Aditi Agrawal

Forty-four percent, or ₹4,563.36 crore, of the ₹10,371.92 crore approved by the Cabinet for the India AI Mission in March is earmarked for providing compute capacity of more than 10,000 graphics processing units (GPUs) over a period of five years, minister of state for electronics and information technology Jitin Prasada informed the Lok Sabha on Wednesday in a written response.

Nineteen percent, or ₹1,971.37 crore, is allocated for an India AI Innovation Centre (IAIC). The IAIC will develop and deploy indigenous large multimodal models (LMMs) and domain-specific foundational models in critical sectors.

Another 18.7%, or ₹1,942.5 crore, is allocated for startup financing.

This was the first time that the government has given details of allocations for the seven pillars under the India AI Mission. The entire corpus is meant for a period of five years. Prasada was answering a question by Trinamool Congress MP Sajda Ahmed.

In July, a new allocation of ₹551.75 crore was made for the India AI Mission in the Centre's budget for MeitY.

This story is from the December 05, 2024 edition of Mint Hyderabad.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 05, 2024 edition of Mint Hyderabad.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MINT HYDERABADView All
Mint Hyderabad

Capex flexibility tops states' budget wishlist

Kerala, Punjab call for special financial packages, higher borrowing limits

time-read
2 mins  |
December 21, 2024
Mint Hyderabad

'Adani foray into cement drives deep discounts'

Competition in India's cement sector heated up with the entrance of the Adani Group in September 2022, top manufacturers bumped up discounts to maintain market share, according to a report from British wealth manager Investec.

time-read
1 min  |
December 21, 2024
Mint Hyderabad

Tata Steel's Dutch plant gets warning

Tata Steel Netherlands will face fines of almost €27 million if it doesn't take measures within eight weeks

time-read
1 min  |
December 21, 2024
Mint Hyderabad

Banks win SC relief on 30% credit interest cap

The Supreme Court on Friday overturned the National Consumer Disputes Redressal Commission (NCDRC)'s 2008 decision to cap interest rates on late credit card bill payments at 30% per annum, bringing relief to lenders that had appealed the consumer forum's ruling.

time-read
1 min  |
December 21, 2024
Mint Hyderabad

Leave a movie midway, and get some money back

PVR Inox's move is part of efforts to widen audience base and improve movie-going frequency

time-read
2 mins  |
December 21, 2024
Mint Hyderabad

Claims of Reliance Infratel's indirect creditors upheld

The apex court upheld ₹10,952 crore claims by four indirect creditors of Anil Ambani-led RCom's tower biz

time-read
1 min  |
December 21, 2024
Mint Hyderabad

Pushpa 2 most-watched film of 2024, Coldplay hot

Nostalgia also took centre stage with re-releases like Kal Ho Naa Ho, Rockstar and Laila Majnu still drawing viewers

time-read
2 mins  |
December 21, 2024
Mint Hyderabad

Bombay HC upholds Adani's bid to develop Dharavi slum

The project gained momentum in 2016 under the Bharatiya Janata Party-Shiv Sena led govt

time-read
2 mins  |
December 21, 2024
Mint Hyderabad

LIVING THE DREAM

The co-founder and CEO of Dream Sports talks about the correlation between academic mediocrity and success, setting the culture at the organisation, and the boom in fantasy sports in India

time-read
6 mins  |
December 21, 2024
Mint Hyderabad

TKIL in talks with oil, steel cos for green hydrogen plants

TKIL aims for 100 MW electrolyser capacity by 2025 and has allocated ₹1,500-2,000 crore

time-read
2 mins  |
December 21, 2024