ETMarkets Smart Talk | India’s indirect AI play could create wealth in power, data centres and capital goods: Hiren Ved

Hiren Ved, CIO of Alchemy Capital, says India's indirect AI opportunity lies in power, data centres, electrical equipment, and capital goods, as global hyperscalers ramp up AI infrastructure spending and expand their India presence. He expects demand for transformers, cables, cooling systems, switchgear and related infrastructure to create new growth avenues for Indian companies. Ved also flags geopolitical risks, India's overdependence on imported energy, shifting FII flows, and expects the second half of 2026 to be stronger than the first for Indian equities.