RBI Governor Sanjay Malhotra reiterated India's cautious stance on cryptocurrencies due to concerns over monetary sovereignty and capital flows, while actively promoting underlying technologies like distributed ledger technology and tokenisation. He also addressed the global rise in public debt and hardening bond yields, attributing it to increased government and private spending, including that driven by AI, and noted the implications of global interest rates on India's monetary policy.
Infosys co-founder Nandan Nilekani has dismissed fears that artificial intelligence will lead to job losses in India's IT services sector, calling such concerns "hogwash" and "disaster marketing." Speaking at the Bloomberg New Economy Forum 2026, Nilekani argued that AI will actually increase demand for IT firms as it necessitates complex business transformations and creates new types of jobs, particularly in small businesses.
Experts at AI Manthan 2.0 in Kanpur stressed the need for Artificial Intelligence to be customised for India's specific requirements in education, healthcare, agriculture, and governance. Discussions highlighted the development of local language models, AI solutions for farmers like crop loss assessment and a single-window platform, and AI's role in healthcare for diagnosis and reducing doctors' workload, all while ensuring data privacy through federated learning.
Pragya Misra, OpenAI's head of public policy and strategy for India, stated that the next phase of AI will concentrate on driving measurable outcomes rather than mere experiments. She highlighted examples like Cars24 using AI for customer retention and a healthcare company building its CRM with OpenAI's Codex, demonstrating AI's tangible business impact and cost-saving potential. OpenAI aims for artificial general intelligence (AGI) to benefit all humanity by making AI accessible and addressing enterprise concerns like data residency.
Regional OTT platform STAGE is set to release India's first AI-made biopic on farmer leader Sir Chhotu Ram. The project leverages artificial intelligence for various aspects of filmmaking, from visualisation to character generation, aiming to reduce production costs and expand storytelling possibilities for underserved cultures and languages.
BRICS leaders, in their New Delhi Declaration 2026, have called for wider access to Artificial Intelligence resources and stronger international cooperation to ensure the technology is safe, secure, inclusive, and reliable. The declaration outlines a broad technology agenda covering AI, cybersecurity, digital public infrastructure, telecom, quantum technologies, and advanced manufacturing, committing to implement the grouping's statement on 'Global Governance of Artificial Intelligence'.
KPMG in India CEO Yezdi Nagporewalla expressed concern over the high valuations of global AI companies, deeming them unsustainable. He believes India, despite a late start, has a strong chance to develop its own unique Local Language Models due to its robust tech ecosystem and global capability centres.
Union Education Minister Pralhad Joshi announced that revised NCERT textbooks for classes 10 to 12 are being prepared in "mission mode," while textbooks for classes 1 to 9 under the new National Curriculum Framework have already been released. He emphasised NCERT's role in building a 'Viksit Bharat' and highlighted the need for curricula to evolve with AI advancements and the importance of India's young population as a global asset.
A new report from Cambridge University Press & Assessment highlights the critical need for Indian policymakers to collaborate with teachers in developing AI education policies. The study emphasizes investing in teacher professional learning and involving educators and learners in the design and evaluation of AI tools to ensure policies are grounded in classroom realities and promote critical AI literacy.
A World Bank report highlights how Artificial Intelligence-powered weather forecasts have enabled small farmers in Telangana, India, to save up to USD 560 by adapting their farming practices to specific risks. The report, "The Promise of Artificial Intelligence," advocates for developing countries to rapidly adopt small, low-cost AI tools to enhance productivity, improve government services, and avoid missing out on the AI revolution.
Sustained selling by foreign investors is weighing on domestic equities, with the benchmark Sensex and Nifty 50 down 15.60 per cent and 14.4 per cent, respectively, this year.
'My biggest fear about AI is that humans are going to rush to deploy it before AI is ready.'
HCLTech has launched 'HCLTech Pulse', a new business unit designed to help enterprises with annual revenues between USD 500 million and USD 5 billion accelerate their adoption of artificial intelligence and modernise their technology infrastructure, targeting a USD 400 billion global market opportunity.
A new IDC report reveals that artificial intelligence is prompting organisations worldwide to retrieve and utilise previously archived, "cold-tier" data for AI training, significantly increasing its perceived value and leading to longer data retention periods and a burgeoning market for datasets.
India's Engineering Research and Development (ER&D) sector is projected to exceed USD 100 billion in revenue by 2030, driven significantly by the integration of Artificial Intelligence (AI) into engineering workflows. This growth, highlighted by Nasscom, positions India as a critical global engineering hub, necessitating focus on talent development and strategic partnerships.
Paytm CEO Vijay Shekhar Sharma stated that the government's new Merchant Discount Rate (MDR) on large-value UPI transactions will significantly increase the company's revenue and profitability. The 0.4% fee on UPI transfers exceeding Rs 2,000 to merchants, effective October 15, is expected to give Paytm a competitive edge. Sharma also highlighted the company's focus on generating free cash flow, expanding internationally, and developing proprietary artificial intelligence capabilities to drive future growth.
Finance Minister Nirmala Sitharaman has called for enhanced accountability and safeguards for artificial intelligence, particularly as it integrates into critical sectors like finance. Speaking at the Global Fintech Fest, she highlighted the dual nature of AI, capable of accelerating transactions but also amplifying fraud and cyberattacks. Sitharaman stressed the need for human and institutional responsibility in AI-driven decisions, urging regulators and companies to scrutinise high-risk AI applications. She also proposed a federated industry platform for Indian tech companies to navigate international regulations and ensure tax compliance globally.
Delhi Police are actively monitoring social media platforms to combat the spread of misinformation during protests in the capital, leading to the removal of approximately 300 posts. This action follows the arrest of a man for creating a fabricated AI video and includes requests to platform X for content removal.
Prasar Bharati Chairman Prasoon Joshi voiced concerns over AI's impact on India's cultural heritage, including music and endangered languages, advocating for human-AI collaboration. Meanwhile, a Spotify report revealed significant growth in royalties for Indian artists, with linguistic diversity driving economic strength in the creative industries, highlighting the platform's role in enabling talent across various Indian languages.
Company identifies areas like cognitive technologies, artificial intelligence, man-machine interface, robotics
Nasscom President Rajesh Nambiar stated that artificial intelligence is not making India's Business Process Management (BPM) industry obsolete but is instead driving its significant reinvention. He highlighted that the sector has an opportunity to become the world's "intelligent operations and transformation hub" by leveraging AI, analytics, and cloud-based operations, moving beyond traditional call centres. Nambiar outlined three key priorities for the industry, including reimagining processes, building hybrid human-AI operating models, and redefining India's global BPM representation.
Hexaware Technologies has announced Vivek Jetley as its CEO-Designate, succeeding Srikrishna Ramakarthikeyan. Jetley will take over on October 28, 2026, with a mandate to accelerate growth and scale the company's AI-led services globally, leveraging his extensive experience in AI and enterprise transformation.
Former Chief Economic Adviser Krishnamurthy V Subramanian outlines India's strategy to become a USD 55 trillion economy by 2047. The plan hinges on leveraging its young demographic in AI, dominating sunrise sectors like space and defence tech, attracting FDI, and achieving sustained 8% GDP growth.
Padma Shri awardee educationist Dinesh Singh advocates for teachers to embrace artificial intelligence, viewing it as a tool to elevate their role rather than a threat. Speaking at the 4th STTAR Global Education Conference, Singh urged educators to use AI to become "gurus." Other leaders, including Shishir Jaipuria, emphasised that the future of education lies in human-technology collaboration, with teachers remaining crucial for inspiring students.
Aditya Birla Group Chairman Kumar Mangalam Birla stated on Tuesday that investments in artificial intelligence should be driven by potential returns, not by a "fear of missing out." Speaking at the 2026 Bloomberg New Economy Forum, Birla indicated that his group would adopt AI more gradually than previously planned, moving away from an "AI arms race" mentality. He also discussed the varied applications of AI across different business sectors, the challenges of capital allocation, and the impact of geopolitical events on global companies.
SEBI Chairman Tuhin Kanta Pandey stated that cybersecurity is now a board-level concern, not just an IT challenge, emphasising the need for caution when deploying artificial intelligence in critical infrastructure. He highlighted that AI for cybersecurity must be secure, governed, and accountable, and also addressed the emerging risks from quantum computing, urging collective resilience and sharing of best practices among regulators.
Chinese President Xi Jinping began his second state visit to the US, meeting President Donald Trump at the White House. Both leaders expressed a desire for a better future for their nations, with Xi emphasising cooperation over confrontation and the avoidance of the "Thucydides Trap." Discussions also touched upon artificial intelligence governance and the extension of a trade truce. The visit was notably marked by a media boycott of White House coverage due to a dispute over press access.
Chinese President Xi Jinping has called for global collaboration in Artificial Intelligence development, stating it should be a "symphony" rather than a "solo performance." His remarks came at the World Artificial Intelligence Conference (WAIC) in Shanghai, where 29 countries also signed an agreement to establish the World Artificial Intelligence Cooperation Organisation (WAICO), an independent intergovernmental body headquartered in Shanghai. China also pledged 5,000 AI research projects and training for developing nations.
Meta has restricted access in India to a viral AI-generated video depicting Kerala Chief Minister VD Satheesan dancing with KSEB officials. The video, which garnered 1.78 crore views, was restricted following a legal request, though the creators believe it wasn't due to the CM's objection, as he had previously expressed excitement about it.
TRAI Chairman Anil Kumar Lahoti has called for robust safeguards, human oversight, and intervention capabilities as Artificial Intelligence becomes increasingly integrated into telecom networks. While acknowledging AI's potential to transform network management and threat detection, Lahoti stressed the need for responsible AI deployment, risk assessments, and clear accountability to ensure consumer trust and prevent misuse, especially in combating online fraud.
Paytm founder Vijay Shekhar Sharma has pledged personal funds, ranging from Rs 1 crore to Rs 2 crore, to Indian entrepreneurs developing their own artificial intelligence models. This initiative aims to foster indigenous AI capabilities and reduce reliance on foreign models, echoing Sharma's past success in mobile payments.
Kerala Chief Minister V D Satheesan announced the state's vision to become a national hub for artificial intelligence and emerging technologies, coinciding with the launch of Naviq Technology by IBS Software Group. The state government is implementing initiatives like an AI-powered dashboard, a Global Job Watch Tower, and curriculum revisions to align with technological advancements and foster skill development in AI and semiconductor sectors.
Adani Enterprises and US-based Jabil have signed a non-binding agreement to establish a 50:50 joint venture in India. This JV will manufacture artificial intelligence and data centre equipment, including AI racks, servers, storage, networking gear, and cooling systems, targeting both Indian and global markets. The collaboration aims to capitalise on India's accelerating data centre demand and the surging global investment in AI compute infrastructure.
Cisco Chairman and CEO Chuck Robbins stated that attempts to slow down AI development are futile. He emphasised that the primary focus should be on enhancing security and defensive measures to match AI's rapid advancement. Robbins also discussed the need for guardrails in AI model releases, the importance of cyber hygiene, and the balancing act between innovation and regulation, particularly for countries like India. He believes AI will not be a net job disruptor but will move people up the value chain.
Zuckerberg said the AI burtler would look like Jarvis from Hollywood blockbuster film Iron Man
Karnataka Chief Minister D K Shivakumar met with AI major Anthropic to discuss a long-term partnership aimed at accelerating AI adoption across governance, education, healthcare, research, and the state's startup ecosystem. The collaboration focuses on deploying AI solutions responsibly, ensuring data privacy, and developing AI-focused skilling programmes and an AI University.
Finance Minister Nirmala Sitharaman has urged the Reserve Bank of India to accelerate its central bank digital currency initiatives, emphasising the need to sharpen capabilities with the digital rupee amidst rapid advancements in tokenisation, agentic AI, and quantum computing. She also highlighted critical concerns regarding cybersecurity, warning that autonomous AI systems are evolving rapidly and require robust safeguards. Sitharaman proposed a federated industry platform to give India's technology ecosystem a collective international voice.
NetApp CEO George Kurian announced that India is the company's fastest-growing market in Asia, driven by strong performance in BFSI, manufacturing, IT services, and public sectors. The company's Bengaluru global capability centre is its largest, housing 4,000 engineers and leading global R&D. NetApp also unveiled new AI-focused storage solutions and cloud partnerships at its Insight event.
IBM India and South Asia MD Sandip Patel stated that India is at a defining moment with a unique opportunity to shape exponential technologies like artificial intelligence, emphasizing that "when India builds, it builds for billions," leading to scalable impact. Speaking at the IBM Think 2026 event, Patel highlighted that the AI revolution is still in its early stages, requiring enterprises to redesign their operations around agents, real-time data, automation, hybrid architecture, and trust. He also introduced the concept of "digital swaraj" or sovereignty in the Indian context, stressing the importance of control over operating environments, data, technology, and AI execution. IBM also announced an MoU with MeitY Startup Hub to accelerate India's deep tech innovation and startup ecosystem, providing startups access to IBM's technology expertise and platforms like watsonx and Sovereign Core.
A joint report by Dell Technologies and Zinnov reveals that despite high ambition, nearly 70% of India's Global Capability Centres (GCCs) are stuck at the pilot stage for AI adoption. Foundational gaps in data, infrastructure, and governance are identified as key bottlenecks preventing the scaling of AI initiatives into enterprise-wide production. The report highlights the need for significant reskilling of the workforce and robust foundations for industrialising AI responsibly.
