TLDR: Vijay Shekhar Sharma, founder of Paytm, has called for India to assert its independence in artificial intelligence, warning against reliance on foreign platforms. He announced that Paytm will launch new AI-focused services under a separate brand, emphasizing India’s capability to build its own AI ecosystem. Sharma also clarified Paytm’s non-involvement in the 2016 demonetisation and advocated for startup founders to control their IPO pricing.
Speaking at the annual Global Fintech Fest on October 8, 2025, Paytm founder and CEO Vijay Shekhar Sharma made a strong appeal for India to maintain its sovereignty in artificial intelligence, stating that the nation should not cede control of AI to foreign entities. Sharma articulated his stance by saying, “For India, the sovereignty of AI is equal to virginity in a way. India should not give in to the sovereignty of AI to the foreign world at all. It is my belief that we as a country are capable and will build it.”
Sharma expressed his “uncomforted” feeling regarding the perceived lack of significant AI development within India, although he did not specify the exact services he intends to offer. He confirmed that Paytm, a brand primarily associated with payment technologies and financial services, would introduce new AI-focused offerings under a distinct brand identity.
Drawing parallels to India’s historical technological evolution, Sharma highlighted the country’s past dependence on American platforms for essential infrastructure, including operating systems for computers, cloud networks, and mobile phones. He lauded China’s strategy of developing its own technological ecosystems, citing an instance where a Chinese mobile phone company created its own operating system after a U.S. counterpart restricted software access.
During the event, Sharma also addressed past controversies, clarifying that Paytm had no role in inspiring the 2016 demonetisation initiative. He remarked that if the company possessed such influence, it would not be facing its current challenges, alluding to recent regulatory scrutiny from the Reserve Bank of India and the Securities and Exchange Board of India (Sebi) over compliance issues. Furthermore, Sharma advocated for startup founders to retain control over the pricing of their initial public offerings (IPOs), advising against reliance on external parties for these critical decisions.
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In a related development, Paytm also announced the launch of its AI-powered soundbox for small and medium businesses at the Global Fintech Fest 2025. This device features an AI assistant capable of interacting with merchants in 11 local languages, offering real-time insights and answers based on their payment and business performance.
