In a visionary proclamation, Union Minister Rajeev Chandrasekhar unveiled the potential for Artificial Intelligence (AI) and online gaming to contribute a substantial sum of USD 300 billion to India’s Gross Domestic Product (GDP) by the year 2026-27.
The Minister, holding the portfolio of State for Information and Technology, envisions the hosting of a groundbreaking global summit, christened ‘India AI -2023,’ scheduled for December 10th this year. This summit represents a monumental stride in advancing the cause of artificial intelligence.
“Emerging technologies such as AI are regarded as dynamic catalysts propelling the digital economy. It is noteworthy that the AI and online gaming sectors have the propensity to augment the digital economy component of the GDP by almost USD 200-300 billion,” Chandrasekhar underscored.
“As part of our mission to reach USD 1 trillion in the digital economy, a significant facet of the USD 5 trillion GDP target by 2026-27, we anticipate AI to play a pivotal role. Hence, Prime Minister Narendra Modi has officially launched the ‘India AI’ initiative,” Chandrasekhar emphasized, speaking to journalists during a technology conference at Amity University, Noida.
The Minister also divulged plans for the inaugural ‘India AI 2023’ global summit, slated for December 10, as a platform for global AI discourse and collaboration.
Addressing concerns expressed by the online gaming industry, particularly with regard to high taxation, he acknowledged the crucial role of “permissible and legally acceptable” online gaming in nurturing opportunities for the younger generation.
However, he was unequivocal about the necessity to combat malpractices within the gaming sector. He affirmed that a robust framework for online gaming has been formulated and is progressively gaining endorsement across the government.
“In the forthcoming months, we envisage a more uniform approach to online gaming, one that excludes bad actors while fostering innovation and expansion within the gaming ecosystem,” Chandrasekhar added.
