India’s Gen AI investment surges, but funding dips: Nasscom
tech industry body Nasscom said in a report.
Despite the increase in investments, however, there was a nearly 50% decline in funding rounds during the first half of this year compared to the second half of last year, Nasscom said in its latest Generative AI tracker.
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Offering CollegeCourseWebsiteMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitDuring the same period, investments in Gen AI startups in the US saw an increase by three times, while investments done by big tech companies in Gen AI startups also saw a 1.25x increase.
Top global hyperscalers are expanding their infrastructure investments across geographies, with over $80 billion in commitments announced towards data centre and cloud capacity over the next 10-15 years, Nasscom said.
Revenue from Gen AI is also gradually appearing as top IT companies are now prepared with strong use cases. For instance, Accenture announced $2 billion in Gen AI revenue booked during H12024. India’s largest software exporter TCS also reported $900 million in Gen AI revenue booked during this period, with 10% in production to be billed within FY 2025.
Sangeeta Gupta, chief strategy officer, Nasscom said, “As GenAI continues to revolutionise the tech landscape, the tech industry in India is leveraging this technology both in-house and for client solutions. The focus is on guiding clients
