Paytm's Vijay Shekhar Sharma wants India to build its own AI models, ready to fund the builders

Paytm founder and CEO Vijay Shekhar Sharma has pledged to support Indian entrepreneurs building their own artificial intelligence (AI) models, offering financial backing in the form of Rs 1 crore to Rs 2 crore cheques. Speaking at the AI conference Cypher 2026 in Bengaluru, Sharma emphasized his commitment to either invest directly in such ventures or provide his distribution network to help their products reach customers.

This personal pledge addresses the ongoing debate within India's AI startup ecosystem about whether to develop independent models or leverage existing ones. Despite Paytech being a listed company, Sharma stated he cannot fund such projects with company resources, but instead intends to leverage Paytm's extensive network. He cited his past prediction about India becoming a global benchmark in payments, now applying the same ambition to AI.

Sharma argued that while India possesses the capital and intention to fund AI development, the real challenge lies in the commitment to long-term goals. He estimated the cost of building an AI model to be under USD 100 million and stressed the importance of perseverance in the face of difficulty. The CEO's vision aligns with Paytm's strategy, where internal AI systems, such as risk engines and fraud detection mechanisms, are already in place.

Sharma also highlighted AI as a potential source of economic strength for India, emphasizing that higher productivity could transform the technology into a national asset rather than a job threat. He encouraged founders to take on the challenge, noting that his initial investment could be increased if more serious builders commit to the cause.