Bernstein research warns of a "strategic tech crisis" in India due to US tech giants using predatory pricing in the AI market. Perplexity Pro offered a year free to Airtel subscribers, and OpenAI launched a cheaper India subscription. Analysts cite regulatory "double standards," favoring foreign firms over domestic ones facing restrictive rules. India's private AI investment significantly lags behind the US and China. OpenAI's plans for an Indian data center and office are viewed with skepticism by Bernstein. They believe this signals US tech dominance, preventing Indian entrepreneurs from competing. Bernstein argues that building data centers is not a sign of true innovation or market control. They foresee Indian companies being forced to rely on US or Chinese foundational models. This situation, Bernstein contends, leaves Indian entrepreneurs with no real chance to remain relevant in the AI landscape. The firm compares the current excitement to a past pattern that ultimately benefited foreign entities.