Key Facts:
In 2024, India’s AI market was valued at around US $6.3 billion.
By 2030, the market is expected to reach US\$28.36 billion.
Prime Highlights:
Drawing parallels with India’s IT industry, Godrej expressed confidence that India could replicate its success in AI, becoming a global provider of AI solutions.
Nadir Godrej, MD of Godrej Industries, highlighted India’s capability to emerge as a global hub for Artificial Intelligence (AI), citing the country’s success in technology and Global Capability Centres (GCCs).
Key Background:
India is poised to become a global hub for Artificial Intelligence (AI), leveraging its strengths in technology, innovation, and business operations, according to Nadir Godrej, Managing Director of Godrej Industries. Godrej highlighted the nation’s remarkable success in fields such as technology and Global Capability Centres (GCCs), noting that these factors create a strong foundation for India to lead in AI development on the global stage.
Speaking on India’s path to becoming a developed nation by 2047, Godrej emphasized the country’s potential to realize its vision of ‘Viksit Bharat’. He attributed this ambition to progressive reforms, improved ease of doing business, enhanced access to education, and India’s competitive edge in new-age technologies. He also underscored the importance of empowering people, particularly advocating for greater female workforce participation as a driver of economic growth.
Drawing parallels with the success of India’s IT industry, Godrej expressed confidence that the country could replicate this achievement within the AI domain. “India has significant potential in AI, and as we have seen with IT, we could become a center for providing AI solutions to the world,” he said. He also pointed to the ongoing success of India’s GCCs, which have thrived across various sectors, and suggested that similar centers could emerge within emerging technologies like AI.
In addition to discussing AI, Godrej mentioned the company’s commitment to expanding its operations in Malanpur, Madhya Pradesh, with a Rs 450 crore investment to enhance manufacturing capacity. This expansion will not only bolster product offerings but also generate significant employment opportunities. Godrej noted that Madhya Pradesh’s strategic location, fast-growing economy, and favorable policies make it an attractive destination for continued investments. With such strategic investments and a focus on technological advancements, India’s trajectory as a global leader in AI seems increasingly promising.
