Ajit kumar

I recently posted about the irony of India coming back into favour with global investors, partly because we were seen as being outside the supposedly overheated AI trade. But perhaps there’s another way to look at it. Stanford now ranks India #3 in global AI vibrancy. No, we don’t make the most advanced chips or lead the race in foundational LLMs. But I’m reminded of an analogy I used in Tech Mahindra’s Annual Report. Smartphones created the platform. Apps unlocked their potential. James Carville famously said, “It’s the economy, stupid!” Perhaps the AI version should be, “It’s the ecosystem, stupid!” The real explosion of applications, domain expertise & enterprise-wide deployment may still lie ahead. And with our software talent, systems integration expertise & enormous domestic market for AI use cases, surely India has a promising hand to play? Perhaps India isn’t just a refuge from the AI hype. It may have a compelling AI opportunity of its own. And if that’s true, the renewed interest in Indian equities may have more staying power than we think…