Can Sarvam Be India's Full-Stack AI Company? Pratyush Kumar & Rajan Anandan

India may have entered the AI race late—but Sarvam AI and Peak XV Partners believe the economics are shifting in its favour. Sarvam co-founder Pratyush Kumar and Peak XV Partners MD Rajan Anandan explain to Himanshi Lohchab why smaller, specialised models can outperform expensive frontier AI for Indian enterprises. They discuss NVIDIA’s investment in Sarvam, the rise of sovereign AI, why voice AI could become India’s first billion-dollar enterprise AI category, and Sarvam’s evolution into a full-stack AI company. They also examine rising global AI costs, India’s compute build-out and why 2026 could become for Indian AI what 2016 was for digital payments.