India to Get Draft AI Regulations by Mid-2024

The Government of India has announced its plans to introduce a draft regulatory framework for AI by June-July 2024 to counter growing concerns about the proliferation of deepfakes and potential harm associated with the technology.

Speaking at a Nasscom event in Delhi, Minister of State for Electronics and IT, Rajeev Chandrasekhar, emphasized the government's commitment to harnessing AI for economic growth while addressing the risks and harms associated with its use.

“We will fully realize the potential of AI but set up the guardrails as well to prevent misuse,” he added, highlighting the need for guardrails to prevent misuse of AI, ensuring its responsible and ethical deployment.

In light of the increasing concerns about misinformation and deepfakes, the government emphasized the legal obligation of internet platforms and social media intermediaries in India to prevent the dissemination of such content on their platforms.

“All internet platforms and intermediaries in India have a legal obligation to ensure no misinformation/deepfakes are posted on their platforms by their users,” he added.

Chandrasekhar also mentioned the collaboration between the Misinformation Combat Alliance (MCA) and Meta to launch a dedicated fact-checking helpline on WhatsApp in the country, emphasizing the use of credible fact-checkers to label misinformation.

The government had previously stated its commitment to monitoring the compliance of intermediaries with the IT Rules, 2021, and the latest advisory from the IT Ministry. 

The government aims to strike a balance, fully realizing the potential of AI while safeguarding against potential negative consequences. The Nasscom-BCG report presented at the event projected significant growth in India's AI market, estimating a 25% compound annual growth rate (CAGR) that could lead to a US$17 billion market by 2027.