India’s artificial intelligence (AI) market is valued at $6.4 billion, with expenditure expected to reach $11.78 billion by 2025, Shanti Ekambaram, deputy managing director of Kotak Mahindra Bank, said in her address at ET Conversations.
“India leads globally in AI skill penetration and ranks second in generative AI = adoption. Initiatives like the ‘IndiaAI Mission’ and investments from Nvidia are fostering a thriving AI ecosystem,” Ekambaram said. She said the AI investments in India could potentially add nearly $500 billion to the GDP.
“Over 100 GenAI startups have raised more than $600 million since 2019, and educational initiatives are upskilling nearly half a million developers. With massive digital infrastructure and a vast pool of talent, India is uniquely positioned to lead the intelligence revolution. It’s safe to say that we’ll be seeing a lot more of Jensen in India,” she said while introducing Nvidia founder Jensen Huang at the ET Conversations event.
Ekambaram said from India that gave the world ‘Shunya’- zero – and the decimal system, to Nvidia’s journey from a graphics card company to the cornerstone of the AI revolution, there has been a remarkable confluence.
“Our massive digital infrastructure and vast pool of talent position us uniquely in this intelligence revolution. At Kotak, we’ve experienced first- hand how AI isn’t about replacing jobs but empowering people. When I meet with technology partners, they often focus on profitability and automation.
But like Jensen’s vision for Nvidia, we ask a different question: ‘How can this technology help us understand our customers better?’ This human-centric approach to technology resonates deeply with Nvidia’s philosophy under Jensen’s leadership,” she said.