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India Not Anti-AI Trade for Global Investors, Say Accel, Elevation, Lightspeed
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Moneycontrol•29-09-2026, 09:33
India Not Anti-AI Trade for Global Investors, Say Accel, Elevation, Lightspeed
- •Leading VCs Accel, Elevation Capital, and Lightspeed assert India is not an "anti-AI trade" despite lacking obvious AI infrastructure compared to US, Taiwan, and South Korea.
- •Speaking at the Moneycontrol Startup Conclave 2026, investors highlighted India's AI opportunity in applications, enterprise software, and AI-led businesses, extending beyond foundational models.
- •Lightspeed partner Rahul Taneja emphasized the broader AI ecosystem in India, including energy, data centers, tooling, and applications, not just foundational model development.
- •Elevation Capital partner Mridul Arora noted that nearly two-thirds of their recent investments have been AI-native, underscoring their commitment to India's AI potential.
- •Investors believe India's large domestic market, digital infrastructure, and tech talent provide significant avenues for building AI-native businesses, despite fewer AI infrastructure companies.
Key Questions Answered
India has historically lacked the obvious foundational AI infrastructure and semiconductor plays that have benefited markets like the US, Taiwan, and South Korea, leading some to view the country as an anti-AI market.
Leading venture capital partners from Accel, Elevation Capital, and Lightspeed note that India's opportunity extends into energy, data centres, connectivity, tooling, enterprise software, and applications.
Venture firms are heavily backing the ecosystem, with Elevation Capital closing a $500 million Fund IX and Accel raising a new India-focused fund as artificial intelligence emerges as a major investment theme.
