India may not be a dominant player in AI hardware, models or compute infrastructure yet, but that gap could be precisely what makes the country attractive, according to BlackRock’s Ben Powell.

Speaking to CNBC-TV18, Powell argued that global investors searching for genuine diversification away from AI-heavy US indices are beginning to re-evaluate India’s role in their portfolios.

“The US equity index today is effectively an AI trade,” Powell said, warning that concentration risk in a handful of mega-cap technology companies is becoming a central concern for global allocators.

“When global investors want diversification, India stands out because it is not part of that AI-supply-chain boom — and that can be a positive.”

While Powell reiterated that India is not yet in the “super-boom” AI

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