The biggest voice in Davos 2026 spoke to us yesterday: US President Donald Trump. It was brief, but it spoke volumes about India-US relations. Watch here
One quick thing: Groww, Physicswallah, other newly listed tech firms face institutional opposition over ESOPs
In today’s newsletter:
Ashwini Vaishnaw’s $100 billion mission for AI Summit
IT Leaders at Davos: AI Needs Plumbing
PhonePe: Revenue gains, Profit pains
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Ashwini Vaishnaw’s $100 billion mission for AI Summit
India’s IT minister Ashwini Vaishnaw is on an ambitious mission: Nearly $100 billion in new investments during the upcoming India AI Impact Summit.
“Already $70 billion investment is happening and we expect that another $50-$80 billion investment will be coming during the AI Summit. I wouldn’t be surprised if we get another $100 billion of investment,” he told us in an interview at WEF 2026 in Davos.
These investments will span across artificial intelligence, semiconductors, infrastructure, and energy, he said.
Need to do more on AI models
The Union Minister also said that India needs to put more effort into building its own AI models, specifically in R&D. “The next big breakthrough will come either from math or from engineering,” he said.
Over the past year, the government has selected around 12 players including Sarvam, Tech Mahindra, Gnani.ai, and Gan AI to build foundational models.
It plans to showcase six to seven models at the upcoming India AI Impact Summit, Vaishnaw noted.
India-US engagement strong
India’s engagement with the United States remains “very consistent”, Vaishnaw said, reacting to Trump’s comment to us.
“The entire semiconductor industry wants to have a very big presence in India. All the big players of the AI world want to have a very significant presence here,” he said.
India could also host an “Autumn Davos” as early as 2027, with discussions already underway with the World Economic Forum, Union minister Vaishnaw told us.
“The idea has come because today we are the fastest-growing major economy…The world would like to come to India as they have come to Europe or China,” he said.
Also read: Govt to release online gaming rules within 15 days, says Ashwini Vaishnaw
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