Speaking at Mumbai Tech Week, Union Minister Piyush Goyal emphasized that the global advancement of AI would be incomplete without India’s contribution.
Stating that AI is only as powerful a tool as the data available to it to process and generate solutions, Goyal said, “the world’s AI journey is incomplete without India.”
He also addressed queries regarding AI’s recognition as an industry in India, urging IT companies to look beyond conventional industry tags. “AI does not need the benefits that previously came along with the title of industry like loan concessions. In today’s time, it doesn’t matter what tag AI gets. Success is the only tag we will give to AI in Mumbai,” he stated.
Discussing Mumbai’s significance in the AI sector, Goyal highlighted that the city’s expanding transport infrastructure will make it an attractive hub for the tech industry. He pointed out, “Mumbai also serves as the landing zone for international fibre optic underground cables, [making] the city a popular space for data centres and hyperscalers like Google or Microsoft.” Expressing confidence in the city’s future, he added that there would be “huge investments for data centres in the city, especially considering the innovation city mentioned by Chief Minister Devendra Fadnavis earlier.”
Goyal also stressed India’s growing role in AI, noting that “no effort to bring AI at the centre stage of our lives could be complete without some Indian playing a role somewhere along the chain.” He highlighted how AI features prominently in discussions around free trade agreements, trade negotiations, digital engagement, data privacy, and data localization.
On the topic of AI regulation, Goyal emphasized the need for careful deliberation before drafting policies on sensitive issues such as data privacy and ethical AI use. He stated, “I’m not so worried that AI regulation has to be debated, well-considered policies have to be prepared, because policies done in a rush, particularly in a sensitive subject like data privacy or ethical use of AI need wider debate.”
He further stressed that the government must engage with all stakeholders when formulating such policies, citing the first version of India’s data protection law as an example.