At a time when two US AI startups Anthropic and OpenAI are heading towards public listings estimated to be worth several billion dollars, India is barely scratching the surface. For the first time since at least 2000, local companies are understood to be out of the top 10 constituents of the MSCI Emerging Markets (EM) Index. Consider this: TSMC alone accounts for 42% of Taiwan’s benchmark index–thanks to its advanced chips which power the world’s top AI models.