Newsbite analysis · AI, Startups
The Economic Times
Paytm's Vijay Shekhar Sharma wants India to build its own AI models, ready to fund the builders
At Cypher 2026 in Bengaluru, Paytm's founder Vijay Shekhar Sharma announced his commitment to support Indian entrepreneurs in building domestic AI models. He plans to fund projects with up to Rs 2 crore per startup, emphasizing that India should develop its own AI technologies rather than solely relying on foreign models. Sharma believes the country possesses enough capital and resources to make this ambition a reality, arguing that AI can enhance productivity and serve as a national strength rather than a job threat.
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Published 7 Oct 2026, 16:31 UTC6 min read
Lead image — The Economic Times
Brief
NewsBite reading:Vijay Shekhar Sharma urges India to develop AI models, pledges financial backing to founders
TL;DR
- Vijay Shekhar Sharma will personally fund Indian founders with Rs 1-2 crore for AI development.
- He emphasizes the need for India to build its own AI models.
- Sharma believes there is sufficient capital and intention within India to support AI initiatives.
- He argues that building core capabilities domestically can enhance national productivity.
- Sharma offers support through Paytm's distribution network for AI products developed by startups.
Interesting facts
- Sharma has previously optimized large AI models for Indian languages.
- He views AI as a source of economic power for India, not a job threat.
- Paytm's AI activities are already being piloted with enterprise customers.