IIT Bombay is building a search engine (grants from HP) that would trawl the web, create annotation links and will also allow for searching for entities and relations.
The core USP comes from annotation and indexing of annotation along the text, and semantic understanding of the query.
The key to moving up in the search value chain is to add semi-structured knowledge to the unstructured corpus, in the form of type, entity, category and relationship annotations, to index these annotations along with the text, and open up search application programming interfaces (APIs) and query languages to probe these indices and aggregate the resulting knowledge. (source)
The focus, it seems is on understanding unstructured data (imho : google has been taken over by seo experts) and there is definitely a need for better understanding of semantics.
What do you think? Is IIT B following Wolfram Alpha route?