New Delhi, Jun 22 (IANS): The Ministry of Electronics and Information Technology has launched the IndiaAI Mission with a budget of Rs 10,372 crore and started inviting nominations from top institutes, such as IITs, NITs etc, for students who are undertaking projects in artificial intelligence (AI), according to reports.

Engineering students pursuing B.Tech or M.Tech degrees at colleges ranked in the top 50 of the National Institutional Ranking Framework will be eligible to receive AI fellowships.

The ministry will provide Rs 1 lakh in three instalments to the B.Tech students who are accepted, while the M.Tech students will get Rs 2 lakh funding in four tranches of Rs 50,000 each, the reports mentioned.

In a letter addressed to 50 engineering institutes by IndiaAI Mission CEO Abhishek Singh, the ministry has asked each institute to nominate 10 students from each category who are undertaking AI projects.

"This fellowship support will supplement existing fellowships and cover the duration of their project: one year for B.Tech students, and two years for M.Tech students," said the letter.

"This support is instrumental in bridging the gap between theoretical knowledge and practical application, thereby ensuring a workforce proficient in the essential skills needed to progress in the field of AI," it added.

To be eligible for fellowships, B.Tech students must have secured an overall 80 per cent mark or equivalent grade in the last semester and the nominated M.Tech students should be pursuing postgraduate studies in AI-related courses and should be undertaking a thesis on AI and related subjects, as per the ministry.