India’s AI market seen touching $17 billion by 2027, notes Nasscom-BCG report

Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration

MUMBAI (Reuters) - India’s artificial intelligence market is projected to touch $17 billion by 2027, growing at an annualised rate of 25-35% between 2024 and 2027, IT industry body Nasscom and consulting firm BCG said on Tuesday, citing a joint report studying AI-powered tech in the country.

The growth is seen on the back of an increase in enterprise tech spending, the country’s expanding AI talent pool and a rise in AI investments, the two said in a statement ahead of the report's release on Wednesday.