Wed Mar 05 13:21:50 UTC 2025: ## Modi Highlights AI’s Economic Potential, Pledges Massive Investment in Innovation
**New Delhi** – Prime Minister Narendra Modi today underscored the critical role of innovation in shaping India’s future, emphasizing the transformative potential of artificial intelligence (AI). Speaking at a post-Budget webinar, he highlighted AI’s capacity to contribute several lakh crore rupees to the Indian economy and generate millions of jobs.
To bolster this growth, the government has allocated Rs 500 crore in the Union Budget for AI-driven education and research, and plans to establish a National Large Language Model to boost domestic AI capabilities. Modi urged the private sector to seize this opportunity and lead globally in AI development.
The Prime Minister also announced significant investments in broader research and innovation. A Rs 1 lakh crore corpus fund, channeled through a ‘Deep Tech Fund of Funds’, will boost investment in emerging sectors. Furthermore, 10,000 research fellowships at IITs and IISc will nurture future talent. The National Geo-spatial Mission and the National Research Foundation will play key roles in accelerating this innovation.
Beyond technology, Modi highlighted initiatives to preserve India’s heritage. The Gyan Bharatam Mission will digitize over one crore manuscripts, creating a National Digital Repository accessible to global scholars. A new National Gene Bank will safeguard India’s plant genetic resources, ensuring food security for generations to come.
Modi also celebrated India’s economic achievements, noting a remarkable 66% growth between 2015 and 2025, propelling the nation to a $3.8 trillion economy – a growth rate exceeding several major global economies. He expressed confidence in India reaching the $5 trillion milestone soon. He further pointed out India’s burgeoning startup ecosystem, now the third-largest globally, reinforced by several budget measures supporting startups.
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