Maharashtra Leads AI Innovation with New Policy, Surpasses Bengaluru as India's Startup Capital

January 17, 2025
Maharashtra Leads AI Innovation with New Policy, Surpasses Bengaluru as India's Startup Capital
  • Maharashtra is positioning itself as a leader in artificial intelligence (AI) through a new policy that aligns with the Central Government's India AI Mission, aimed at fostering innovation and entrepreneurship.

  • Minister for Information Technology, Ashish Shelar, emphasized the critical role of AI in expanding India's digital economy, which is currently valued at $600 billion.

  • To spearhead this initiative, the state has established the AI Policy Taskforce, consisting of 16 members, tasked with developing the AI Policy 2025.

  • The task force is led by the Director of the Maharashtra Information Technology Directorate and includes experts from both the private sector and government.

  • These efforts are part of the BJP-Shiv Sena-NCP government's 100-day action plan, which aims to enhance the state's digital capabilities and technological advancement.

  • Maharashtra is already home to over 25,000 start-ups, leading in investment and valuation, and has recently surpassed Bengaluru to become India's startup capital.

  • India's startup ecosystem has grown significantly, now ranking as the third-largest globally with over 157,000 start-ups, a remarkable increase from just 471 in 2016.

  • In support of this growth, Fadnavis announced a partnership with the Small Industries Development Bank of India (SIDBI) to create a Rs 100-crore fund aimed at supporting start-ups in tier-2 and tier-3 cities.

  • Fadnavis is also seeking input for a new start-up policy, which he expects to finalize in two months, positioning it as the most progressive in India.

  • The India AI Mission, with a budget of Rs 10,372 crore, focuses on enhancing AI capabilities through various initiatives, including application development and skill development.

  • In addition to AI initiatives, a Cybersecurity Taskforce has been established to create a framework for protecting critical digital assets and mitigating cyber threats.

  • The forthcoming Cyber Security Policy will address rising cybercrime threats and ensure secure digital services for citizens and various sectors.

Summary based on 7 sources


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