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The economic impact of the COVID-19 pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy.
Altman met with India's IT Minister Ashwini Vaishnaw and discussed India's plan of creating a low-cost AI ecosystem. Altman lauded the country’s rapid AI adoption and growing ambitions.
India jumped to 100th place out of 190 countries in the World Bank's 2017 ease of doing business index, from 130th in the 2016. [5] In February 2017, the government appointed the United Nations Development Programme (UNDP) and the National Productivity Council "to sensitise actual users and get their feedback on various reform measures". [ 6 ]
India Stack refers to the project of creating a unified software platform to bring India's population into the digital age. Its website describes its mission as follows: "India Stack is a set of open APIs that allows governments, businesses, startups and developers to utilize a unique digital Infrastructure to solve India’s hard problems towards presence-less, paperless, and cashless service ...
The Artificial Intelligence (AI) market in India is projected to reach $8 billion by 2025, growing at a compound annual growth rate (CAGR) of over 40% from 2020 to 2025. [1] This growth is part of the broader AI boom , a global period of rapid technological advancements starting in the late 2010s and gaining prominence in the early 2020s.
The Electronics Committee also known as the "Bhabha Committee" created a 10-year (1966–1975) plan laying the foundation for India's IT Service Industries. [10] The industry was born in Mumbai in 1967 with the establishment of Tata Consultancy Services [11] who in 1977 partnered with Burroughs which began India's export of IT services. [12]
The number of newly founded startups has increased from 733 in 2016–17 to over 14000 in 2021–22, making India the third largest startup ecosystem in the world after the US and China. [3] Among them, around 6600 startups have been in the FinTech industry, evaluating a market value of US$31 billion in 2021. [4]
T-Hub (Technology Hub) is an innovation intermediary and business incubator based in Raidurg, Hyderabad, Telangana, India. [1] Based on the triple helix model of innovation, it is a partnership between the Government of Telangana, three academic institutes in Hyderabad (the International Institute of Information Technology, the Indian School of Business and the National Academy of Legal ...