Artificial Intelligence, online gaming can add up to USD 300 billion to India's GDP by 2026-27

IT Min Chandrasekhar Oct 12 Artificial Intelligence and online gaming segments can add up to USD 300 billion dollars to India's gross domestic product (GDP) by 2026-27, Union Minister Rajeev Chandrasekhar said here on Thursday.

The Minister of State for Information and Technology said the government will host a global summit titled 'India AI -2023' on December 10 this year in a major push to artificial intelligence.

"We see emerging technologies like AI (artificial intelligence) as being kinetic enablers of the digital economy, considering that the AI segment and online gaming segments can add almost USD 200-300 billion to the digital economy component of the GDP," Chandrasekhar said.

"Our target is USD 1 trillion in the digital economy, part of the USD 5 trillion dollar GDP by 2026-27, which would be 20 per cent of the GDP. We think that AI will be a very significant component of that, which is why Prime Minister Narendra Modi has launched the 'India AI' programme," he told reporters on the sidelines of a technology conference at Amity University, Noida.

The minister also shared that on December 10, the government will host the first global summit titled 'India AI 2023'.

On concerns raised by the online gaming industry over high taxation, he said the government sees that "permissible and legally acceptable" online gaming as being an important part of opportunities before youngsters.

"However, it has been clear that there are some bad actors in the gaming sector who have misused the internet and that there is absolute justification to crack down on them. The framework for online gaming has been finalised and is gradually being advocated to the rest of the government," Chandrasekhar said.

"We think in the coming months, there would be a much more consistent approach to online gaming that will keep the bad actors out and permit innovation and growth in the innovation ecosystem around online gaming," he added.