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AI & Tech

India’s place in the AI and chip build-out: the companies supplying power and hardware, the semiconductor ecosystem, and the risks the IMF is watching.

Glowing map of India with a lit-up brain at its centre, linked by network lines to points across the country, representing India's AI infrastructure
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India’s Hidden AI Story: The Companies Building the Backbone

Goldman Sachs, as reported by Press Insider, says India's AI story sits in 42 "AI Enabler" companies, mostly suppliers of power, grid equipment, cables, chips and data centres, which rose about 60% in 2026 while the Nifty fell about 10%. Their gains are backed by rising profits rather than hype alone, but at about 36 times expected earnings they are not cheap.

September 21, 2026
Pencil sketch of a balloon marked AI being popped by a pin, illustrating AI bubble fears and the IMF warning

Is There an AI Bubble? IMF Warns, Then AI Stocks Slide

The IMF did not call AI a bubble: its October 2026 blog flagged three growing risks, a correction in AI-linked prices, a sharp rise in government bond yields and cyberattacks, and warned about the debt building up behind AI spending. A risk warning is not a crash prediction; the open question is valuation, not whether the technology is real.

Oct 16, 2026
Cover graphic for India’s semiconductor ambition: a microchip resting on a silicon wafer at sunrise, with cranes and new buildings under construction in the background.

India’s Semiconductor Ambition Is Not Just Talk: The Ecosystem Is Being Built

India's chip ambition is turning into real projects: five chip packaging plants are in commercial production, and the first commercial fab, by Tata Electronics and PSMC, is scheduled for commissioning in 2028. The government is backing it with Semicon 2.0, approved on 15 July 2026 with an outlay of ₹1,27,500 crore, while places like Dholera build the homes and hospitals the workforce needs.

Sep 30, 2026
Illustration of a person celebrating opening a glowing AI treasure chest, with text reading NSE Indices launches Nifty AI Catalysts Index — Now we can easily track India’s AI enablers

India’s AI Treasure Map: 48 Stocks, One Free Index

The Nifty AI Catalysts Index, launched by NSE Indices on 11 September 2026, tracks 48 Nifty 500 companies that supply the products, services and infrastructure behind AI, with each stock capped at 3%. It leans on capital goods, power and telecom infrastructure rather than AI software.

Sep 28, 2026