IFSCA seeks comments on GIFT City leasing to boost AI
Business
IFSCA, the GIFT City regulator, is proposing a plan to let companies lease GPUs and data center equipment in Gujarat's GIFT City.
The goal? Help India catch up in the AI race and broaden the leasing ecosystem.
If you've got thoughts on the plan, you can send them in until August 28.
IFSCA plan could bring 700,000 GPUs
Right now, India has less than 5% of the world's AI computing power, while the US and China dominate with over 70%.
With this new leasing model, IFSCA hopes to bring in up to 700,000 GPUs over 5 years and could create an investment opportunity of about $23 billion.
By making advanced tech more affordable for businesses through leasing (instead of buying), India could boost its own AI ecosystem.