India will hold the next AI Impact Summit in February 2026. This announcement was made by Union Electronics and Information Technology Minister Ashwini Vaishnav on Monday. The summit will discuss the security and impact of Artificial Intelligence (AI). The last edition was co-chaired by Prime Minister Narendra Modi in Paris. As part of this preparation, NITI Aayog organized a special conference to showcase the best practices of AI applications in districts across the country. The Union Minister said that AI-based initiatives have improved learning outcomes in education, strengthened agriculture and improved the quality of health services.
On this occasion, NITI Aayog and NITI Frontier Tech Hub released the report “AI for Developed India: The Opportunity for Accelerated Economic Growth”. The report states that the use of AI can be an important means of accelerating India’s economy. It is estimated that by 2035, India’s estimated GDP can increase from 6.6 trillion US dollars to 8.3 trillion US dollars due to the adoption of AI and innovation in research. NITI Aayog CEO BVR Subramaniam said that AI can play a decisive role in helping India achieve a growth rate of more than 8 percent and maintain it for a long time. According to the report, the widespread use of AI in industries will boost growth by 30-35 percent, while AI-based research and development will contribute another 20-30 percent.
The report identifies banking, financial services and manufacturing as sectors that will reap immediate benefits from AI. It is estimated that by 2035, AI will add an additional value of US$50-55 billion to financial services and US$85-100 billion to the manufacturing sector. In the future, the use of AI will create huge opportunities in drug discovery, automobile components and software-based vehicles.
Union Minister Ashwini Vaishnav said that like the Internet, AI will completely change the way of life, work and consumption. He said that India is ready to become a leader in this field and the government is emphasizing on research, development and talent pipeline. Citing the example of the Semiconductor Mission, the minister said that 278 institutions across the country are training students on modern semiconductor design tools. Several chips have already been manufactured at the Mohali-based Semiconductor Laboratory. He stressed that focusing on AI, semiconductors, telecom, biotech and other critical technologies will help make India a global technology leader in the coming decades.
