Global IndiaAI Summit 2023 PDF

6th -10th July AC 1. The Government of India (GoI) hosted the “Global IndiaAI Summit” on July 3rd to 4th July at Bharat Mandapam, New Delhi, Delhi. The summit was organised by the Ministry of Electronics and Information Technology (MeitY), GoI. The summit a...

6th -10th July AC 1. The Government of India (GoI) hosted the “Global IndiaAI Summit” on July 3rd to 4th July at Bharat Mandapam, New Delhi, Delhi. The summit was organised by the Ministry of Electronics and Information Technology (MeitY), GoI. The summit aimed to foster collaboration and the knowledge exchange among global AI stakeholders, which reflects India‟s unwavering commitment to the responsible development, deployment, and adoption of Artificial Intelligence (AI) technologies. Also, India as the lead chair of the Global Partnership on Artificial Intelligence (GPAI), hosted the 6th Global Partnership in Artificial Intelligence (GPAI) Ministerial Council meeting in a hybrid mode. Key Highlights of the Summit: i. The MeitY organised total 12 sessions on the sidelines of the summit and these sessions were attended by 2,000 global AI experts, policy makers, AI practitioners and over 10,000 AI enthusiasts attended them virtually. ii. The summit was mainly focused on advancing AI development in key areas which include: Compute Capacity, Foundational Models, Datasets, Application Development, Future Skills, Startup Financing, and Safe AI. These all are 7 key pillars of IndiaAi Mission. About IndiaAi Mission: i. In March 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved IndiaAi mission and has allocated budget outlay of Rs 10,371.92 crore(USD 1.25 Billion). It will be implemented by “IndiaAI” Independent Business Division (IBD) under Digital India Corporation (DIC). ii. IndiaAi mission aims to build a comprehensive ecosystem which will give boost to AI innovation in India through strategic programs and collaborations across the public and private sectors. It is based on 7 Key Pillars such as: IndiaAI Compute Capacity: This will help to set up a scalable AI computing ecosystem with more than 10,000 Graphics Processing Unit (GPUs) through Public-Private Partnerships (PPPs). IndiaAI Innovation Centre: This centre will facilitate the development and deployment of indigenous Large Multimodal Models (LMMs) and domain-specific foundational models in critical sectors. IndiaAI Datasets Platform: This unified data platform will provide seamless access for Indian startups and researchers to high-quality non-personal datasets for AI innovation. IndiaAI Application Development Initiative: It will promote the AI applications in critical sectors for the problem statements sourced from ministries, state departments, and other institutions. It aims to develop and promote best and impactful AI solutions which have potential to bring significant socio-economic transformation. IndiaAI FutureSkills: It will help to reduce obstacles to AI education by increasing AI courses at various academic levels and establishing Data and AI labs in tier-2 and tier-3 cities of India. IndiaAI Startup Financing: It is conceptualized to support and accelerate deep-tech AI startups and provide them streamlined access to funding in order to support and promote futuristic AI projects. Safe and Trusted AI-Recognising AI: It aims to ensure the implementation of responsible AI projects which includes: the development of indigenous tools and frameworks, self-assessment checklists for innovators, and other guidelines and governance frameworks. iii. The Global South Countries which participated at the summit acknowledged and appreciated India for providing them opportunity to raise their voice at the global AI forum and bridge the gap with Global South. iv. During the summit, the convening of Collaborative AI on Global Partnership (CAIGP) brought together GPAI members, AI experts and representatives from various industries to identify mechanisms to bridge the global AI divide. Outcomes of the Summit: i. During the 6th ministerial council meeting of the GPAI held on the sidelines of Global IndiaAI summit, the members of GPAI announced a new “integrated partnership” with the Organisation for Economic Cooperation and Development (OECD) on AI. ii. The GPAI members unanimously agreed about the future vision of Global Partnership on AI. Some of the key points included in the future vision are: Recognise the transformative potential of AI which will help in shaping the future of our societies and economies. Acknowledge the potential risks and challenges related to AI systems. Share a commitment to foster a trustworthy and human-centric AI. Reaffirm the collective commitment towards the OECD recommendation on AI and the recommendations of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) on Ethics of AI. Recall that the GPAI is a unique initiative for the global multi-stakeholder cooperation on AI. Recognise the New Delhi 2023 GPAI Ministerial Declaration. iii. During the summit in-depth discussions were held on various implementation aspects of IndiaAi mission, these include: Multi-LLM models to address the diverse needs of India. Platformization and standardization of AI data. Partner ecosystem and multi-stakeholder approach to implement IndiaAi mission including, technology, policy, framework, research, among others. Bringing together skilled and talent ecosystem, demand ecosystem researchers, startup and industrial ecosystems. About Global Partnership on Artificial Intelligence (GPAI): It is an international initiative on AI was launched in 2020 with 15 founding members including, India, to support responsible and human-centric development and the use of AI. At present, GPAI has 29 members. In 2023, India took over the Presidency of GPAI from Japan for 2024. While Serbia is the chairman of the 2025 GPAI. 2. The Republic of Belarus officially became the 10th permanent member of Shanghai Cooperation Organisation (SCO), a Eurasian political, economic, international security and defence organization. The other permanent members of SCO are: China, Russia, India, Iran, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.  On 4th July 2023, India hosted the 23rd SCO-CHS summit in a virtual format. During the summit, Iran became the 9th member of SCO.  Kazakhstan took over the chairmanship of SCO from India in July 2023. About 24th SCO-CHS: The Republic of Kazakhstan, the 2024 Chair of the SCO, hosted the 24th SCO-CHS Summit in Astana, capital city of Kazakhstan from 3rd to 4th July, 2024. Theme: “Strengthening Multilateral Dialogue- Striving for Sustainable Peace and Development” 3. Dr. Sreedhara Panicker Somanath, Chairman, Indian Space Research Organisation (ISRO) launched „Bharatiya Antariksh Hackathon‟ – (Indian Space Hackathon) as part of the first National Space Day (NSpD 2024) celebrations. The first National Space Day will be celebrated on 23rd August 2024. The hackathon will feature 12 problem statements in the areas of geospatial domain, space science, image processing from centres of Physical Research Laboratory (PRL), North Eastern Space Applications Centre (NESAC), Space Applications Centre (SAC), among others. 4. India‟s annual domestic defence production has hit a record high of approximately Rs 1.27 lakh crore i.e. Rs 1, 26,887 crore in FY24(2023-24). This shows the growth of 16.7% over the defence production compared to Rs 1, 08,684 crore of total Value of Production (VoP) recorded in FY23 (2022-23). As per MoD, DPSUs/other PSUs; and Private sector contributed about 79.2% and 20.8% of the total Value of Production (VoP) in FY24 respectively. 5. The Ministry of Culture (MoC) has initiated Project PARI (Public Art of India) ahead of the 46th Session of the World Heritage Committee(WHC), which is scheduled to be held from 21st July to 31st July, 2024 at Bharat Mandapam in New Delhi, Delhi. About Project PARI: The initiative is executed by the Lalit Kala Akademi and the National Gallery of Modern Art. Aim:  To promote public art that draws inspiration from millennia of artistic heritage (lok kala/lok sanskriti) while incorporating modern themes and techniques.  To stimulate dialogue, reflection, and inspiration, contributing to the dynamic cultural fabric of India. India‟s UNESCO World Heritage Sites: i.At present, India has the 6th largest number of UNESCO‟s recognised World Heritage sites after Italy (59), China (57), France (52), Germany (52) and Spain (50). ii.India currently has 42 UNESCO World Heritage Sites, including 34 cultural sites, 7 are natural sites and 1 is a mixed site. 6. The Life Insurance Corporation of India (LIC) launched „Jeevan Samarth„, an agency transformation project, to future-proof its 14 lakhs (1.4 million) agents workforce to meet evolving customer needs. 7. ICICI Lombard General Insurance Company Limited launched „Elevate‟, a first-of-its-kind revolutionary health insurance product powered by Artificial intelligence (AI) to provide customised solutions for diverse healthcare needs. 8. The Export-Import Bank of India (EXIM Bank) signed an agreement with the Government of Guyana to provide India-supported Line of Credit (LoC) of USD 2.50 million for installing a solar photovoltaic(PV) power plant at Cheddi Jagan International Airport (CJIA) in Timehri, Guyana. MD of EXIM Bank: Harsha Bangari 9. Tata Asset Management Private Limited (TAMPL) launched India‟s 1st tourism index fund, Tata Nifty India Tourism Index Fund. About Tata Nifty India Tourism Index Fund: i.It is an open-ended index fund which will monitor the Nifty India Tourism Index, which consists 17 companies (as of 21st June, 2024) operational in the tourism sector, with a maximum stock level capping limit of 20% in the index. The index can hold maximum 30 companies chosen from the broader Nifty 500 index. The fund is recognised as „Very High‟ risk due to the high weightage i.e. up to 100% in stocks which are considered as riskier assets. 10. SEBI directive mandates a "uniform and equal" charge structure for all stock exchange members, effective October 1.  This change is likely to lead to higher broking charges from stockbrokers, negatively impacting their revenue.  Stockbrokers' shares like Geojit Financial, Motilal Oswal, 5Paisa, and SMC Global Securities fell following the announcement.  SEBI observed a discrepancy between the charges collected by brokers from clients and the charges paid to exchanges.  Uniform charges aim to eliminate volume-based discrepancies and ensure charges are "true to label". 11. The Ministry of Commerce and Industry discussed FY30 export targets with representatives from export promotion councils. The meeting, led by Minister Piyush Goyal, aimed for $100 billion in electronics and textiles exports, and substantial growth in pharmaceuticals, chemicals, and agriculture. Electronics exports are targeted to rise to $100 billion by FY30, from $29.1 billion in FY24, with a focus on mobile devices. Textile exports aim to reach $100 billion by FY30, up from $34.43 billion in FY24, with a significant push in ready-made garments and cotton products. Pharmaceutical exports are expected to double to $55 billion by FY30, focusing on drug formulations and biologicals. Chemical exports target $65 billion by FY30, while agriculture and allied products aim for $85 billion, up from $50 billion in FY24. 12. Roshni Nadar Malhotra, Chairperson of HCL Technologies Limited (HCLTech), Indian multinational information technology (IT) consulting company, has been honoured with France‟s highest civilian Award – the “Chevalier de la Légion d‟Honneur” (Knight of the Legion of Honour). The award recognises her contributions to the business; her efforts to strengthen economic ties between France and India; and her commitment to social and environmental causes. 13. Maharashtra won the Best Agriculture State Award 2024 announced by the 15th Agriculture Leadership Awards Committee, chaired by Justice P Sathasivam. Recognized for innovative agricultural practices and high-impact developmental initiatives, focusing on environmental protection and food security. Maharashtra is the largest economy among Indian states, contributing 12.92% to the national GDP, with 12.1% of its economy from agriculture. 14. Elisa de Anda Madrazo of Mexico has assumed the presidency of the Financial Action Task Force (FATF) for a two-year term from July 2024 to June 2026. 15. Prime Minister Narendra Modi received Russia‟s highest national award, the Order of St. Andrew the Apostle, from President Vladimir Putin. 16. Dr. Soumya Swaminathan, former Director-General of the Indian Council of Medical Research and Chief Scientist of the World Health Organization, has been appointed Principal Adviser at the Union Ministry of Health and Family Welfare for the National Tuberculosis Elimination Programme (NTEP). 17. The Ganga Waters Treaty, signed in 1996 between India and Bangladesh, focuses on the equitable sharing of the Ganga River water and needs renewal in 2026. Indian Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina have agreed to negotiate a new deal, addressing new challenges such as climate change affecting water flows.