AI Regulations in India: Balancing Innovation and Ethics

India is taking significant steps to shape its AI policy, with government bodies actively discussing regulation, ethics, and innovation. The Reserve Bank of India has formed an eight-member committee to develop a framework for responsible AI in the financial sector, focusing on mitigating risks such as bias and data protection. Meanwhile, the Competition Commission is studying AI's potential impact on market structures and competition. As India navigates the complex landscape of AI governance, experts stress the importance of sector-specific regulations to foster innovation while addressing ethical concerns.
Source: The Economic Times