SUMMARY
The number of unicorns coming up in India, the quality of talent and the kind of solutions Indian startups are creating have become a benchmark for the world, says H.E. Omar Sultan AlOlama
India and the UAE recently signed an MoU to collaborate in areas like supply chain resilience, renewable energy, space systems, AI, and Industry 4.0
The UAE government is already in talks with India on how a UPI-like framework can be deployed in the Gulf nation
India’s dramatic rise as one of the biggest digital economies has attracted the attention of many developed nations, so much so that they now see India as their biggest strategic partner in strengthening the fourth industrial revolution (4IR).
To be sure, this is happening at a time when India is well poised to become a trillion-dollar digital economy by FY26. And let’s not forget, the country’s tech startup ecosystem is booming despite a funding winter.
At the Gitex Global 2023 summit organised in Dubai, the Minister of State (Artificial Intelligence, Digital Economy and Remote Work Applications) and the chairman of Dubai Chamber of Digital Economy, H.E. Omar Sultan AlOlama, did not restrain from acknowledging the startup powerhouse that India has become today and the kind of solutions that are emerging from the seventh largest country in the world.
Sharing his enthusiasm towards the Indian market, in an exclusive interaction with Inc42, AlOlama said, “The startup ecosystem in India is unparalleled anywhere on earth. The number of unicorns coming up in India, the sheer quality of talent and the kind of solutions India is creating are proving to be the world’s benchmark… The UAE and India complement each other. In terms of diversity, we have people from all nationalities coming to the Emirates, our banking infrastructure is global, and we need to capture the bar of the global market, so we can actually complement each other in this.”
For the uninitiated, India and the UAE have recently signed an MoU in Abu Dhabi to collaborate in areas like supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0 and advanced technologies, as well as standardisation and metrology.
Under the MoU, the UAE and India will also collaborate in the deployment of 4IR technologies in industry, real-time data processing, the development of machine-to-machine control systems, the development of autonomous robotics, equipment and vehicles, as well as the deployment of additive manufacturing in key industries.
In 2018 as well, the UAE joined hands with India to develop artificial intelligence (AI) with plans to generate $20 Bn in economic benefits during the next decade.
“I am working with the Government of India to see how we can ensure that there is cross connectivity in the best of ways between the UAE and India. I am very excited to look forward to it to happen,” AlOlama added.
Appreciating India’s success with the UPI, he said that the world can learn from India’s UPI example.
“Conventional wisdom tells you that smaller countries can move faster than bigger countries, however, India has changed this conviction. The UPI is an example we all can learn from. This can be taken as a benchmark for countries of different sizes, regions and cultures,” he added.
Why Is The Emirates Bullish On India
According to AlOlama, the UAE and India have historical ties across different fields. Today, both countries are building a lot of bridges on the AI front and the Emirates can collaborate with India on several AI fronts.
The UAE government is already in talks with India on how a UPI-like framework can be deployed in the Gulf nation.
“But the point is we are just getting started. There are so many different industries and sectors that we can together work on. This partnership can especially benefit India startups while helping the UAE make improvements,” he added.
He also believes that there are very few use cases which AI cannot solve today. However, the question here is how one can use AI responsibly.
A similar point was earlier emphasised by the Indian Prime Minister Narendra Modi who called for a global framework for the expansion of “ethical” AI tools at the Business 20 (B20) Summit organised by the CII in August this year.
Later that month, the Indian Minister of State (MoS) for Electronics and Information Technology, Rajeev Chandrasekhar, too, highlighted that AI should be responsible so that user harm is curbed and innovation is encouraged.
“Our primary aim is to ensure a collaborative and participatory approach, steering AI to enhance governance and transforming lives while building global partnerships and actively shaping the world’s technology landscape,” the MoS had then said.
India Buckles Up To Disrupt The AI Ecosystem
In her budget speech In February this year, the Finance Minister, Nirmala Sitharaman, revealed the government’s plan to establish three “Centres of Excellence for Artificial Intelligence” within prestigious educational institutions.
These centres will enable collaboration between educational institutions and leading industries, with a primary objective of conducting research and developing practical AI applications in areas such as agriculture, healthcare, and sustainable urban development. The overarching goal is to cultivate a robust AI ecosystem in India and a skilled workforce in AI.
The government is highly committed to positioning India as a global hub for AI and is directing significant efforts toward enhancing the technological skills of the country’s youth. For instance, the Data Tech Labs Inc initiative in partnership with the Government of India will ensure that young individuals can develop their AI skills.
In July 2023, the Indian government announced a new free AI training course as part of the India 2.0 programme. This initiative is all about offering free online AI training.
Developed through a collaborative effort involving Skill India and GUVI, the programme boasts accreditations from the National Council for Vocational Education and Training (NCVET) and IIT Madras. These details were shared by Dharmendra Pradhan, the Union Minister of Education and Skill Development and Entrepreneurship.
Furthermore, to invigorate the startup ecosystem in India, particularly those focussed on building trained AI models, the Indian government is planning to establish a Graphics Processing Unit (GPU) Cluster to support the creation of practical AI applications.
On the global stage, in November 2022, India achieved a significant milestone when it assumed the G20 chairmanship and was designated as the future chair of the Global Partnership on Artificial Intelligence (GPAI).
The Indian government firmly believes that AI can play a pivotal role in propelling India towards becoming a $1 Tn digital economy by 2025-26. As of now, the Indian government is enthusiastic about accelerating the development of AI infrastructure within the nation, and with allies like the UAE, India will soon be seen playing a key cog in the wheel of the fourth industrial revolution and mentoring the world on the AI front.
