India needs companies that build foundational technologies the platforms on which thousands of others can build.
Semiconductors, databases, cloud platforms, AI models, operating systems, and space infrastructure are not just products; they are national capability layers.
India has one of the world’s largest pools of electronic design and software talent, yet we still do not have a semiconductor company doing $10B in revenue and $1B in EBITDA. The same gap exists in cloud, AI, databases, and other deep foundational technologies.
This is also a capital allocation problem. Strategic investments in frontier technology can create far more long-term value than routine stock buybacks. Google’s bets on SpaceX and Anthropic are examples of how backing foundational technology platforms can create massive strategic and financial upside.
India’s next decade should be about building companies that do not just serve markets they create markets.
We need to fix our capital allocation problem and more investors must ask hard questions not just be passive investors through SIPs