Falling indian rupee reason.
In the last 18 months, Foreign Investors pulled out
almost $45 Billion from Indian equities because of the falling rupee, and a major reason is that India is nowhere in the global Al race, so they're betting on AI and chip companies in Japan, Korea, and Taiwan. In 2017, Narayana Murthy dismissed Al as hype at a time when global Al companies were investing heavily in Al, but Indian IT service companies focused on short- term gains and not R&D. And look at today: Japan Times is saying India lost a big AI opportunity, and that's true. We're the world's biggest Al consumers and nowhere in AI innovation. Sad?
Indian governments across the country are taking millions of dollars in debt to fund short-term freebies and direct cash transfers to people just to get votes. This short-sightedness is costing us now and will cost us in the future, bro. The WILL is ZERO not just in the government but private players are also happy with zero R&D and dollars flowing from the US in exchange for services, not innovation. We're happy with
American AI APIs :)