US, China could colonize India with AI: Uday Kotak
Veteran banker Uday Kotak has a warning for India: relying too much on AI tech from the US and China could put the country at risk of "colonization."
At the EY Entrepreneur Of The Year 2026 awards, he urged Indian companies to step up and invest at least 10% of their revenue in research and development (R&D), saying, "Can't have India colonized by countries who are investing heavily in AI — like US & China. We will not allow certain companies and countries to colonize the world."
Kotak's take on AI and R&D
Kotak pointed out that while AI is everywhere, what's missing is "artificial wisdom"—the thoughtful use of technology.
He questioned why Indian businesses aren't spending more on R&D to keep pace globally.
He also flagged India's high banking costs and how regulations like the Cash Reserve Ratio (CRR) add to the challenge.
On top of that, he said the US "seems to be happy with a weaker dollar."
Indian companies need to stay sharp and proactive
Kotak called for Indian companies to avoid getting comfortable—he wants them to stay sharp with a bit of "a sense of paranoia" and entrepreneurial drive.
While GST reforms might help level things out, his main message was clear: don't wait around—be proactive if you want India to lead in tech.