ET Graphics: How India created a niche path in the AI moolah route

Even as the United States pours billions into foundational models and AI data centres, India is steadily carving out its niche in applied AI for one of the world’s largest enterprise and consumer markets.

The country’s GenAI ecosystem now comprises over 890 startups, which have collectively raised around $1 billion over the past three years. While this remains modest compared to global AI funding, which reached $192.7 billion in 2025, the opportunity is significant. Himanshi Lohchab breaks down the latest funding trends.