Union Finance Minister Nirmala Sitharaman on Thursday said the government has identified several Institutes of Excellence to host artificial intelligence (AI)-focused research and development (R&D) and training programmes, targeting four priority sectors—agriculture, education, health, and urban living.
Addressing the annual symposium of the IFQM, the minister noted that NITI Aayog has been actively involved in the initiative and has recently added space and nuclear technology as a fifth focus area for AI development.
“In different institutions of excellence, research and development-related activities, primarily keeping AI at its center, are already well grounded,” Sitharaman said.
“This is going to draw youngsters who have already qualified from institutions with some exposure to AI, but they are the ones who are also going to be drawn to these centers of excellence and continue to work more on AI with specific area specialisations.”
The move underscores the government’s focus on leveraging AI to address sectoral challenges, boost innovation, and prepare a skilled workforce for emerging technologies.
She further urged Indian industry to step up investments and expand capacities, saying the government has already delivered on reforms and policy measures expected by businesses.
The minister called on India Inc to partner with the government not only in skilling youth but also through year-round engagement instead of restricting consultations to the Budget season. This comes a day after the minister said that the new reforms are set to leave Indian economy with Rs 2 lakh crore cash in hand.
“Today I have a basket of things on which the government has delivered. I hope there is no more hesitation for the industry to invest further, to expand capacities, produce more in India, and what else is required by the government to do, spell them out,” Sitharaman said.
During his address, Sitharaman also listed ease of doing business, tax reforms, FDI liberalisation, and industry-friendly policies as areas where the government has acted in line with expectations.
She also pointed out that the MSME sector remains a key contributor to India’s GDP, with the government ensuring that the Small Industries Development Bank of India (SIDBI) has a physical presence in MSME clusters.
“Even in this day and age when we are talking about digital banking, we insisted that SIDBI would be present in each of these clusters,” she added.
She also stressed the importance of a long-term vision for India’s growth, highlighting the critical role of the industry.