"Is Money Coming Only For AI?": Nirmala Sitharaman Pushes Back On India Outflow Claims

Finance Minister Nirmala Sitharaman pushed back at the claim that India lacks a real AI play and said global funds use different yardsticks when they judge emerging markets. Speaking at the NDTV Profit Conclave, she said India is building AI talent at speed and continues to draw serious interest from major global investors despite recent shifts in flows. Sitharaman said concerns about India's AI positioning reflect the view of some fund managers, not all. “It is probably their own assessment, and they perhaps deal with their funds with these factors before them,” she said. She added that others see India differently. “There are equally big fund managers and people like JP Morgan whose global head comes to India and who would say probably not what they have said. They would say India is the place to be.” On the claim that India lacks a meaningful AI play, she said the premise itself is flawed. “I am not convinced about that because AI for every country has its own little calibration over and above the AI which is globally required.” She said India's strength lies in people.