India is advancing its artificial intelligence (AI) initiatives with two significant challenges aimed at fostering innovation in the sector. The IndiaAI Innovation Challenge, organized by the INDIAai mission, invites participants to develop indigenous Large Multimodal Models (LMMs) and domain-specific foundational models, particularly in critical sectors such as healthcare and governance. Meanwhile, the Michelin AI Challenge, launched in collaboration with Startup India, aims to mentor AI startups, offering pilot projects worth ₹5 lakh each to the top three winners. Applications for both challenges are open, with the deadline for the Michelin AI Challenge set for August 31, 2024. These initiatives reflect India's commitment to enhancing AI capabilities and promoting responsible AI deployment across various sectors.