Commenting on the recent success of TCS, the official Global Times (September 26) observed that "Nevertheless, while China's stock market pales in comparison to India's, China's top tech companies are far ahead of their Indian counterparts. NYSE-listed Alibaba saw its market near $460 billion after Wednesday's market close, more than four times that of TCS. In another sign, the US remains stable at 18 of the world's top internet companies by market capitalization, while China is home to seven of them, per Mary Meeker's annual internet trends report released in June. Alibaba, ranked six, led the Chinese companies making the list. None of the five remaining comes from India. It concluded "It is fair to say that India's tech prowess, still largely confined to IT services, is nowhere close to China, one of the twin engines in the tech world that now derives most of its power from internet-driven innovation". The article ended with the 'advice': Along with China's rise in AI, both domestic and global talents are seen setting their eyes on innovation hubs in China. In the case of India, a continuation of obsession with Silicon Valley would only distance itself from global tech leadership.'
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