India is poised to unveil the initial draft of its artificial intelligence regulatory framework by June-July this year, IT Minister of State Rajeev Chandrasekhar said on Tuesday.
The announcement arrives amidst mounting concerns regarding the potential risks associated with AI and deepfake technology, especially in the backdrop of 2024 being the election year.
Chandrasekhar during his discussion with Anant Goenka at the Mumbai Tech Week, said, "We intend to exploit AI to its fullest for achieving the goals of our economic growth."
He added, "Ensuring that AI makes a big impact on healthcare and drug discovery, as well as on agriculture and farmer productivity. Use cases are not about having bragging rights to compete with ChatGPT."
The minister, according to a PIB release, said the government's focus will be to support education, in multiple languages of India with multiple datasets.
"If it were just about innovation, if it were just about entrepreneurs doing their thing and we did not have some rules, laws, and guardrails, you would have chaos," he said.
The minister also touched upon India's tech rivalry with China, saying the dragon nation's export control regime seems to have slowed down its growth, which stands to give an edge to India.
He said India is hitting its stride in the semiconductor manufacturing too, with two full-fledged chip fabs slated up to be set up in the country.
"We have today two full-blown fabs, with $10 billion fab investments coming into the country after decades. We are also partnering with the best partners for technology for the future of semiconductors.
"So, along with the design innovation ecosystem on semiconductors, which is going to design the next generation chips and devices, we are also launching India Semiconductor Research Centre which is going to be a state of the art research center where the world’s biggest semiconductor makers will research in India," the minister said.
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