Arun Natarajan

Three lines in a press release just rewrote India's tech strategy. One: The US declared frontier AI models a national security asset. Two: it cut off every foreign national, including its own employees abroad. Three: Fable 5 went dark in India this morning. This is not about one model. It's the trailer. Chips, compute, models, robotics, drone systems - that we don't build ourselves are only rented. Just like with a rental house, the owner can change their mind at any time and decide to kick you out. Sovereignty used to mean borders and armies. Now it means semiconductors, foundation models, and the ability to say no. Sovereign tech will be one of the biggest investment themes in the coming years. The Chinese were smart enough to prioritize this over the last decade; India will need to ramp up rapidly.