India has taken a firm stance by announcing that it has no intentions to regulate AI. This announcement comes amidst growing concerns caused by the rise of generative AI tools like ChatGPT and Bard, which has prompted calls to slow down from influential voices.

While acknowledging the risks that AI can pose, such as privacy concerns, bias, and potential job displacement, India's Ministry of Electronics and Information Technology appears to prioritize the positive impact that AI can have on the digital economy. The ministry believes that AI will strengthen entrepreneurship and businesses and play a significant strategic role in India's future. While working on standardizing responsible AI guidelines to promote healthy industry growth, India diverges from the increasing alarm expressed by US and European policymakers.

The 'What about China?' argument has also been raised, suggesting that India's approach to AI regulation sets it apart from China's cautious regulatory environment. Although India has been a relatively late entrant in AI investment, it aims to create an environment conducive to AI innovation, especially if ambitious technologists feel constrained by regulatory frameworks in the US and other countries.