
Sarvam AI selected to build indigenous foundational model under IndiaAI Mission
The government on Saturday announced that Bengaluru-based
artificial intelligence
(AI) startup
Sarvam AI
is the first startup selected to build an indigenous
foundational model
under the
IndiaAI Mission
.
ET was the first to report on April 24 that Sarvam was one of the players selected for incentives under the Rs 10,000 crore mission.
Sarvam will receive access to graphics processing units (GPUs) from the IndiaAI Mission's common compute cluster to train the model. The model will be completed in six months, said cofounder
Vivek Raghavan
at the event where the announcement was made.
'This model will have 70 billion parameters and many innovations in programming as well as engineering, with which a 70 billion parameter (model) can compete with some of the best in the world,' said union IT minister Ashwini Vaishnaw, explaining the reasons for selecting Sarvam.
The government has received over 400 applications to build Indian models.
Capable of reasoning, designed for voice, and fluent in Indian languages, Sarvam's model will be ready for secure, population-scale deployment, the startup said in a statement.
As part of the sovereign large language model proposal, Sarvam is developing three model variants, said Pratyush Kumar, cofounder, Sarvam. These include Sarvam-Large for advanced reasoning and generation, Sarvam-Small for real-time interactive applications, and Sarvam-Edge for compact on-device tasks.
'We are collaborating with
AI4Bharat
at
IIT Madras
, a leader in Indian language AI research, to build these models,' said Kumar.
Both Raghavan and Kumar were earlier part of AI4Bharat before branching out to set up the startup.
The multi-modal, multi-scale Indian foundation models will open up a 'universe of applications' for citizens and enterprises, said Raghavan.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hindustan Times
23 minutes ago
- Hindustan Times
How to find your DIGIPIN code online using your phone's location in seconds
The Indian government has introduced DIGIPIN, a digital address system designed to improve location identification across the country. This system aims to enhance services like last-mile delivery for companies such as Amazon and Flipkart, and it could support emergency services, including police, ambulance, and fire departments by offering precise geographic data. DIGIPIN offers a secure and efficient way for citizens and various entities to get accurate location details. It operates as an open-source, interoperable, geo-coded, and grid-based digital address system. It addresses challenges in areas where traditional addresses are unclear, such as rural regions, forests, and coastal zones. Also read: WWDC 2025: How to Watch Apple's Live Event and What to Expect from iOS 26, AI Tools and More DIGIPIN assigns a unique ten-character alphanumeric code to properties measuring approximately 4 by 4 square meters anywhere in India. This includes urban and rural locations as well as maritime zones. The system complements the existing six-digit postal PIN codes by adding a more exact layer of address information. The technology behind DIGIPIN was developed by the Department of Posts, working with the Indian Institute of Technology Hyderabad and the National Remote Sensing Centre, which is part of the Indian Space Research Organisation (ISRO). Also read: Google pauses 'Ask Photos' AI Feature to address performance issues You can also retrieve DIGIPIN codes for other locations by entering their geographic coordinates on the portal. Similarly, you can find coordinates by entering a DIGIPIN code. This functionality supports both residential and commercial users needing accurate location information. Also read: Adobe launches the Photoshop Beta app for Android smartphones: Everything you need to know In short, DIGIPIN is expected to improve the accuracy of address-based services across India and help the government and private sectors offer better service delivery through precise location identification.


Business Standard
24 minutes ago
- Business Standard
Zaggle buys two companies in a single day, pumps Rs. 150 crore
PRNewswire Mumbai (Maharashtra) [India], June 9: Zaggle Prepaid Ocean Services Limited, India's leading spend management company, is set to acquire a 100% stake in Dice and GreenEdge Enterprises for Rs150 crore. These consecutive acquisitions will enhance Zaggle's presence in the Indian market, significantly broaden its portfolio of advanced spend management solutions and further strengthen its offerings in the loyalty, rewards and travel segments. The company is set to acquire a 100% stake in Dice and GreenEdge. The company has made four acquisitions in the last four months, infusing about Rs. 215 crore. With this acquisition, Zaggle has completed four strategic takeovers in the past four months, totalling nearly Rs215 crore. These moves align with the company's ambition to become a $1 billion revenue enterprise within the next five to seven years. Zaggle is strategically deploying the Rs595 crore raised through its Qualified Institutional Placement (QIP) to acquire companies that are product-accretive, geography-accretive, or EBITDA-accretive, while ensuring sustained positive returns on equity and investments. Incorporated in 2018, Dice is a Pune-based AI-driven enterprise spend management platform, specializing in Spending as a Service. Its suite of solutions encompasses travel and expense management, accounts payable management and procurement management solutions. Its unified platform offers seamless self-booking, approvals and reconciliations with built-in policy controls, streamlining the entire spend cycle for businesses. The company has demonstrated consistent growth over the last two years, clocking a turnover of over Rs. 6 crores in FY24. The acquisition of Dice will significantly enhance Zaggle's existing product portfolio, transforming it into a more comprehensive and integrated suite of spend management solutions. Through this acquisition, Zaggle will gain access to Dice's established customer base, which includes prominent enterprises such as Tata AIA, Bajaj Electricals and DTDC, further reinforcing its market presence. The combined capabilities will not only deepen Zaggle's reach within the Indian market but also create new opportunities to deliver its advanced solutions on a global scale. GreenEdge Enterprises, on the other hand, is a specialized solution provider for golf travel, unique experiences and access-based rewards. With its stronghold in India, the company achieved a turnover of Rs. 19.82 crores in FY24. This acquisition will enhance Zaggle's product offerings in the loyalty and rewards and travel segment, providing a substantial boost to its Propel offering. Zaggle had recently announced the acquisition of a 51% Controlling Stake in EffiaSoft and a 38.34% stake in Mobileware Technologies. The company had recently reported a consolidated profit after tax (PAT) of Rs. 87.4 crore for FY25, up from Rs. 44 crore in FY24. About Zaggle Founded in 2011, Zaggle (BSE: 543985) (NSE: ZAGGLE) is a leading player in spend management, offering a differentiated value proposition with a diversified user base. Operating within the business-to-business-to-customer (B2B2C) segment, Zaggle stands out as one of the few companies with a comprehensive range of financial technology products and services. Zaggle is one of India's top issuers of prepaid cards, collaborating with banking partners to drive its card offerings. The company also boasts a diverse portfolio of SaaS products and an extensive network of touchpoints. As of March 31, 2025, Zaggle has issued over 50 million prepaid cards, serves more than 3,400 corporate enterprise clients and supports a user base exceeding 3.2 million. With a robust corporate client base spanning various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobiles, Zaggle is well-positioned as a leading player in the spend management sector.


Economic Times
26 minutes ago
- Economic Times
Sebi probes Jane Street's derivative trades over 3 years: Sources
India's market regulator, SEBI, is investigating Jane Street's derivatives trading activities over the past three years, suspecting potential manipulation of benchmark stock indexes. The probe, triggered by unusually high profits and complaints from other firms, focuses on algorithmic trading strategies in NSE's Nifty 50 and banking indexes. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads INCREASED SCRUTINY Tired of too many ads? Remove Ads India's markets regulator is investigating Jane Street's derivatives trades stretching back three years to check if one of the world's largest quant trading firms intended to manipulate the country's benchmark stock indexes, according to two sources with direct knowledge of the investigation - the largest such into a global trading firm - follows a series of steps taken by the Securities and Exchange Board of India (SEBI) to cool the frenzy in India's derivatives is investigating Jane Street, Jane Street Singapore Pte and JSI Investments, the firm's India unit, and studying the firms' algorithmic trading strategies in the National Stock Exchange's index of top 50 stocks and its index of banking stocks, one of the sources said."The investigation is to establish whether there was a repeated pattern of taking outsized derivatives positions in index constituents, particularly bank stocks, then trade the index in the physical market to profit from its position," the source India does not impose any restrictions on traders from taking intraday positions in derivative as well as physical markets, surveillance systems typically signal repeated patterns of taking positions in excess of 10 billion Indian rupees ($116.93 million).A report is being prepared with assistance from the stock exchange, following which the U.S.-based trading firm will be sent a regulatory notice to explain its sources declined to be named as the investigations are confidential. Jane Street and SEBI did not respond to several requests for investigation stemmed from large profits made by Jane Street on its India derivatives positions - nearly five times the profit made by the second largest trading firm, the second source for high-frequency trading and its dominance of the exchange traded funds market, Jane Street's net trading revenue for 2024 stood at $20.5 billion globally, according to Bloomberg. As of December 2024, the firm's revenue from India operations stood at 200 billion Indian rupees ($2.34 billion), the second source firm started its India operations in December from other large institutional firms on Jane Street's trade practices also prompted the investigation, the sources Street last year sued a rival hedge fund, Millennium Management, accusing it of stealing a valuable in-house trading strategy. At a court hearing, it was revealed that the strategy involved India options and had generated $1 billion in profits for Jane Street in 2023. The two firms settled the case in investigation has also prompted SEBI to increase monitoring of intraday positions to watch for large concentrated trades in index stocks, the two sources and stock exchanges are currently drafting a mechanism to do this, said the sources, adding that large positions for consecutive days could prompt thresholds for such investigations are still being will also be asked to periodically audit algo programs of large trading firms, which are already required to get approval from exchanges before using the programs.($1 = 85.8370 Indian rupees)