India's AI index has demonstrated superior performance compared to major global AI players, according to Alchemy Capital Management's Hiren Ved. Speaking at the ET Alpha Wealth Summit in Mumbai, Ved revealed that India's AI index outperformed the Mag-7 plus Nvidia combination across all timeframes - one year, two years, and three years - when measured in dollar terms after accounting for currency depreciation. This outperformance has surprised market observers and challenges the narrative that India is being left behind in the AI race.
Ved reframed the AI debate by calling it 'Opportunity Kaal' rather than AI-Kaal, emphasizing that India is experiencing an opportunity period rather than an AI drought. As reported by The Economic Times, he stated that companies using AI aggressively will leave rivals behind within five years, creating a significant competitive divide between leading firms and laggards. The strategic use of AI is expected to drive competitive advantages and future growth for businesses that embrace the technology effectively.
For investors, this performance gap means a new due-diligence question must enter every portfolio review: what is this company actually doing with AI? According to Ved's analysis, those companies that leverage AI well will compound their competitive advantage, while those that do not will face challenges. He emphasized that capital is very smart and will go where the returns are the best, suggesting that investors should focus on identifying companies with effective AI implementation rather than lamenting what India lacks.
Ved advocated for embracing disruption as an opportunity rather than a threat. As reported by The Economic Times, he stated that 'I become very happy when there are disruptions' because there is an impulse to change. This perspective challenges the conventional view that disruption is a negative force, instead positioning it as a catalyst for innovation and competitive advantage. The message emphasizes that India does not lack an AI story, but rather that investors need to look more creatively to identify where the country leads in AI adoption.
