India, May 28 -- India's AI market is projected to expand 5.3x over the next five years, reaching $126 Bn by 2030. However, the road ahead is still long, and India remains far behind in AI, according to Mohit Saxena, the cofounder & CTO at InMobi & Glance.

"We are competing with the US on one side and China on the other. The US has trillions in funding and access to chipsets, while China is a manufacturing powerhouse," Saxena added.

Speaking at the third edition of Inc42's AI Summit in Bengaluru during a fireside chat with Ankur Pahwa, managing partner at PeerCapital, Saxena said that scarcity and limitations often drive innovation, and China has successfully navigated such constraints. Not getting access to Nvidia was probably the best...