New Delhi: Global technology giants have pledged to invest hundreds of billions of dollars into artificial intelligence initiatives linked to India, as the country hosted a major AI summit that brought together world leaders and top industry executives.
The surge in commitments comes at a time when governments and companies worldwide are racing to expand their AI capabilities.
Global hyperscalers such as Amazon, Microsoft, Meta and Alphabet are expected to spend as much as $700 billion combined on AI-related capital expenditure this year.
In India, major industrial groups have announced massive plans. Reliance Industries is reportedly planning to invest $110 billion in data centres and related infrastructure.
Meanwhile, the Adani Group has outlined a $100 billion investment plan over the next decade to build AI-focused data centres.
Several American firms also unveiled major commitments during the summit. Microsoft said it is on track to invest $50 billion in AI projects across the Global South by the end of the decade.
OpenAI and chipmaker Advanced Micro Devices announced partnerships with Tata Group to strengthen AI capabilities in India.
US-based asset manager Blackstone said it participated in a $600 million equity funding round for Indian AI infrastructure firm Neysa.
The event highlighted India’s ambition to become a global technology powerhouse. The country has approved $18 billion worth of semiconductor projects to strengthen its domestic supply chain.
At the same time, the United States and India are moving closer to a trade agreement aimed at lowering tariffs and boosting economic cooperation.
During the summit, representatives from both countries signed the Pax Silica agreement, a US-led initiative launched under the Trump administration to secure the global supply chain for silicon-based technologies.
Top global AI leaders attended the event, including OpenAI CEO Sam Altman, Alphabet CEO Sundar Pichai, Anthropic chief Dario Amodei and Google DeepMind CEO Demis Hassabis.
Chip giant Nvidia also announced that it is expanding partnerships with venture capital firms in India to increase its exposure to emerging technology startups in the country.
–IANS
Conflicts in Middle East could reshape global economy, says World Bank chief Ajay Banga
Washington: Rising geopolitical tensions are beginning to reshape economic expectations, with the World Bank’s president Ajay Banga warning that prolonged conflict could dampen growth, fuel inflation and strain vulnerable economies....
Oil shock to drag growth, raise inflation: IMF
Washington: A global oil shock linked to the Middle East conflict is set to hit growth and stoke inflation across energy-importing economies, the International Monetary Fund (IMF) Managing Director Kristalina...
RBI holds repo rate at 5.25 pc, maintains neutral instance amid global uncertainty
New Delhi: The Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 5.25 per cent, and maintaining the status quo in its latest Monetary Policy Committee...
Oil falls after Trump signals Iran pause
Washington: Oil prices dropped sharply after US President Donald Trump said he would pause planned military strikes on Iran for two weeks, easing fears of a wider conflict in the...
Trump imposes 50 per cent tariffs on steel, aluminum, and copper
Washington: US President Donald Trump signed a sweeping proclamation imposing steep tariffs on imports of steel, aluminium and copper, tightening trade controls in the name of national security. The order...
Trump admin raises concerns over birth tourism in citizenship case
Washington: The US government flagged concerns over “birth tourism,” particularly from China, as it urged the Supreme Court to curb automatic citizenship for children born on American soil. Arguing for...
Stocks fall, oil prices jumps after Trump’s Iran speech
Washington: Global markets fell, and oil prices rose after US President Donald Trump signalled the Iran conflict would continue for weeks, raising concerns about supply disruptions and prolonged economic fallout,...
US moves to curb offshore call centres
Washington: The Federal Communications Commission has launched a sweeping proposal to push call centre jobs back to the United States, tighten customer service standards, and crack down on illegal robocalls...
Centre slashes excise duty on petrol and diesel by Rs 10 per litre each
New Delhi: The government on Friday slashed excise duties on petrol and diesel by Rs 10 per litre each, bringing them down to Rs 3 per litre for petrol and...
India’s growth to remain resilient at 7.1 pc in FY27 despite geopolitical tensions: S&P Global
New Delhi: India’s growth remains resilient at an estimated 7.1 per cent for FY27, even as geopolitical tensions in the Middle East pose challenges to the broader Asia-Pacific region, according...
Oil markets volatile amid conflict fears, diplomacy hopes
Washington: Oil markets swung sharply as investors weighed fears of a prolonged Middle East conflict against signs of possible diplomatic progress, with prices briefly topping $100 before retreating. Wall Street...
Delhi CM Rekha Gupta presents Rs 1,03,700 crore Budget for 2026-27
New Delhi: Chief Minister Rekha Gupta presented the annual budget for the 2026-27 financial year in the Delhi Assembly on Tuesday, proposing a total outlay of Rs 1,03,700 crore. This...
