'Far from crash, talk on AI just getting started in India'

Netweb CMD says the firm is seeing a lot of clients talk about artificial intelligence spending

- Shouvik Das

Sanjay Lodha, chairman and managing director of Netweb.

Netweb Technologies, the youngest of India’s technology firms to have gone public, is banking on sustained demand for homegrown artificial intelligence (AI) tools, platforms and applications to sustain strong growth for the next three to five years, a top company executive told Mint on Monday.

In an interview, Sanjay Lodha, chairman and managing director of Netweb, said demand for AI “is far from facing a crash—in fact, in India, the conversations are just getting started”.

“We are seeing a lot of clients talk about AI spending, and it is only in the past few months that India has begun seriously spending on AI infrastructure and services," Lodha said. "There’s good reason for me to believe we can retain 35-40% compounded annual growth rate (CAGR) over next three to five years, as government initiatives and demand for sovereign AI grows.

Netweb, incorporated in 1999, rose to prominence two years ago upon its public listing. It does not own data centres, but provides the infrastructure that run the AI factories of the modern era. These include custom-built IT servers tuned for AI usage.