Maharashtra Clears ₹10,000 Cr AI Policy
Mumbai: In a major step towards building AI infrastructure in the state, the Government of Maharashtra on Wednesday approved a comprehensive Artificial Intelligence (AI) policy targeting an investment of ₹10,000 crore to set up 6 AI Centers of Excellence and 5 AI Innovation Cities. This initiative focuses on developing AI infrastructure, supporting 5,000 startups/MSMEs, creating 1.5 lakh jobs and developing a pioneering ethical AI framework.
The Maharashtra AI policy will be implemented in line with the ‘India AI Mission’ by promoting research, innovation and responsible management. Building on Maharashtra’s existing digital economy worth Rs 6 lakh crore, it aims to transform several sectors including healthcare, agriculture and manufacturing.
“The essence of this policy is for Maharashtra to establish itself as a ‘Reference State’ for the ‘India AI Mission’ in the development of ethical AI,” Chief Minister Devendra Fadnavis said.
According to him, there are many countries competing globally in the field of AI, and Maharashtra in particular has set its own goal and established itself as the ‘National Center for Ethical and Inclusive AI Development’.
“We plan to provide AI skills training to two lakh youth and professionals in the state under the Maharashtra Artificial Intelligence Mission,” the CM said.
The policy envisages the development of 50 AI tools and use cases to increase the adoption of AI across industries and businesses in the state.
The government plans to provide 2,000 Graphics Processing Units (GPUs) to create the robust computing infrastructure required to implement the policy and 5,000 MSMEs will receive financial support to adopt AI technologies.
The government will also set up a Rs 500 billion venture capital fund to promote AI-based startups and unicorns, of which Rs 250 billion will be provided by the state. Officials said that subsidies will also be provided for the purchase of machinery for artificial intelligence-supported industries.
For the entry of Micro, Small and Medium Enterprises (MSMEs) into the AI space, the government will provide 20 per cent subsidy for AI implementation costs to 5,000 MSMEs and a centralized platform ‘Maha AI Tools Hub’ to support this initiative. Additionally, an ‘AI Startup Venture Fund’ of ₹500 crore will be created, with contributions expected to be split equally between the government and the private sector (₹250 crore each). This is in line with the policy’s objective of establishing at least one ‘AI Unicorn’ in the State.
Additionally, each start-up will be eligible for a grant of up to Rs 1 crore; women-led start-ups will receive additional financial assistance of up to Rs 2.5 crore, along with an additional aid of 25 per cent.
Industries will be offered incentives such as capital subsidy of up to 20 per cent on fixed capital investment, 100 per cent waiver of stamp duty, electricity tariff subsidy of ₹ 2 per unit for up to 10 years, reimbursement of expenses up to ₹ 8 lakh for domestic patents and ₹ 10 lakh for international patents, and reimbursement of certification costs up to ₹ 25 lakh. Industries participating in international exhibitions will be eligible for rent refund of up to ₹25 lakh.
