On September 26, 2026, Union Finance Minister Nirmala Sitharaman said that artificial intelligence (AI), semiconductor chips and quantum technology are likely to become India’s next major areas of infrastructure investment. She made the remarks during a fireside chat organized by the IIT Madras Alumni Association in Bengaluru.
Sitharaman emphasized the need to accelerate the development of the hardware, skills and institutional ecosystem required to effectively use these emerging technologies. She also highlighted the need for greater investment in AI hardware, training and education.
On AI, Sitharaman rejected the perception that India had “missed the AI bus.” She pointed out that several Indian AI startups have already become unicorns or are approaching unicorn status. However, she noted that relatively few AI companies are listed on India’s major stock exchanges, the NSE and BSE.
She suggested that more AI companies entering the public markets could increase the international visibility of India’s AI ecosystem. According to her, the absence of listed AI companies should not be treated as sufficient evidence that India is falling behind in AI, since significant activity, funding and institutional development are already taking place in the country.
The minister also stressed that India’s technological development should extend beyond software to include AI hardware, semiconductor manufacturing and quantum technology, supported by skilled professionals, educational institutions and industry collaboration.
