Media365
India has emerged as one of the world’s leading AI-ready economies, ranking behind only the United States and China, while also maintaining one of the most diversified equity markets globally, according to a recent J.P. Morgan report.
The report titled “Semiquincententacles: The U.S. Grip on Global Markets at 250” highlighted India’s growing importance in the global artificial intelligence ecosystem and its unique position among major stock markets.
According to J.P. Morgan, India stands out as one of the least concentrated equity markets in the world at a time when the dominance of a few large companies, particularly technology giants, has increased sharply in several developed markets.
The report noted that the share of the ten largest companies in the S&P 500 has climbed significantly over the past decade, rising from nearly 17 per cent of total market capitalisation in 2015 to around 40 per cent currently. In contrast, India continues to offer broader market participation with lower concentration among its biggest companies.
On the global AI race, J.P. Morgan said the United States continues to lead in AI innovation, infrastructure and investments, backed by dominance in advanced chips and computing power. Nvidia remains the key player in AI accelerator revenues, though competition is rising from custom chips developed by major technology companies.
The report also highlighted China’s rapid progress in cost-efficient AI models. It noted that Chinese companies including DeepSeek, MiniMax, Xiaomi and Alibaba are increasingly competing on the basis of performance and lower operating costs.
J.P. Morgan said Chinese open-weight models have narrowed the gap with leading closed AI systems while offering significantly cheaper usage costs, making them attractive for businesses.
For India, the findings point towards a strengthening role in the global AI landscape, supported by digital adoption and market depth. However, the country continues to trail the US and China in advanced AI capabilities, infrastructure and semiconductor development.
