India is ready to almost double the capacity of its graphics processing unit (GPU) under the National Artificial Intelligence (AI) Mission, which aims to expand 29,000 GPU from around 18,693 GPU.
The expansion is part of the IndiaAI Mission, approved in 2024. It has a budget of about 103 billion (bn) in five years to strengthen AI capabilities in the country.
The GPU capacity expansion aligns with India’s broad vision of becoming a global AI powerhouse by 2047, supporting economic development, governance and social progress through state -of -the -art AI technology.
This initiative promotes an inclusive AI ecosystem by empowering students, startups and innovators across the country, by making world -class AI infrastructure cheap and accessible beyond privileged institutions.
Here are 5 stocks which can benefit from doubling of India’s GPU capacity.
#1 MosChip Technologies
First on the list is MosChip Technologies.
The MosChip offers silicon design, verification, product engineering, AI/mL solution design and IOT solutions covering end-to-end services.
The MosChip Technologies stands to gain significantly from the National AI Mission and India’s GPU capacity to gain considerably, thanks to their strategic attention on semiconductor design, AI/mL engineering and embedded systems.
The mission’s push for AI adoption across industries increases opportunities for MosChip to design, optimise, and deploy AI models on cloud and edge platforms (CPUs, GPUs, TPUs), leveraging the expanded compute infrastructure.
MosChip Technologies Financial Snapshot (FY20-24)
| (Rs m, consolidated) | FY20 | FY21 | FY22 | FY23 | FY24 |
| Net Sales | 993 | 1,052 | 1,476 | 1,984 | 2,939 |
| Net profit | -460 | -92 | 65 | 62 | 99 |
| Return on Equity (%) | -77.1 | -18.4 | 10.8 | 6.3 | 13.2 |
| Return on Capital Employed (%) | -66.9 | -1.0 | 24.6 | 12.4 | 6.9 |
On the financial front, the company reported losses in FY20 and FY21, but managed to turn the corner in FY22. For the quarter ending December 2024 net profits have surged to Rs 121 million (m) from Rs 4.86 m in the corresponding period of the previous year.
Going forward, the company plans to expand its business.
#2 E2E Networks
Second on the list is E2E Networks.
The E2E network provides quick cloud computing solutions with state -of -the -art GPU such as Nvidia A100, H100, and H200, catering AI/Ml, NLP, Computer Vision and Generative AI workloads.
It is the first India company to deploy large groups of NVIDIA H200 Tensor Corps GPU, which greatly enhances its ability to provide high performance AI compute infrastructure.
This positions E2E as a leading provider for enterprises, startups, and researchers needing advanced GPU resources for AI model training, inference, and generative AI applications.
E2E Networks is a key player in the government’s large-scale GPU tender, which is central to the National AI Mission’s goal of democratising access to AI compute.
This involvement ensures a steady flow of government-backed AI workloads to E2E’s cloud infrastructure, further boosting its business and market relevance.
E2E Networks Financial Snapshot (FY20-24)
| (Rs m, consolidated) | FY20 | FY21 | FY22 | FY23 | FY24 |
| Net Sales | 251 | 353 | 519 | 662 | 945 |
| Net profit | -94 | -12 | 65 | 99 | 219 |
| Return on Equity (%) | -39.4 | -4.6 | 16.9 | 20.4 | 32.1 |
| Return on Capital Employed (%) | -38.5 | 0-3.9 | 14.1 | 28.1 | 21.6 |
Net profits at E2E Networks have grown from Rs 65 m in FY22 to Rs 219 m in FY24. While in the years FY20 and FY21 the company did make losses, it has turned the corner in FY22.
Looking forward, E2E Networks is scaling its infrastructure to meet the rising demand for AI/ML workloads, aiming to empower startups, enterprises, and research institutions in India’s rapidly evolving digital and AI ecosystem.
#3 Tata Communications
Third on the list is Tata Communications.
Tata Communication offers a broad portfolio of services including cloud hosting, managed network and security services, collaboration tools, Internet of Things (IoT) connectivity, and media services.
The company is deploying one of the largest NVIDIA Hopper GPU-based cloud supercomputers in India, positioning itself as a leading provider of high-performance AI compute resources.
Tata Communications Financial Snapshot (FY20-24)
| (Rs m, consolidated) | FY20 | FY21 | FY22 | FY23 | FY24 |
| Net Sales | 170,680 | 171,001 | 167,247 | 178,383 | 209,688 |
| Net profit | -870 | 12,537 | 14,779 | 17,668 | 9,496 |
| Return on Equity (%) | 6.8 | 1,085.8 | 159.3 | 116.4 | 53.3 |
| Return on Capital Employed (%) | 11.1 | 22.5 | 34.1 | 38.2 | 27.7 |
In FY24 margins contracted and net profits fell. However, in FY25 the company has done much better. For the quarter ending March 2025, the net profit surged to Rs 10.4 bn from Rs 3.21 bn in the corresponding period of last year.
Going forward, Tata Communications is among the select companies bidding to supply GPUs for the IndiaAI Mission, which involves government procurement of thousands of GPUs. Success in these tenders can drive substantial business growth and reinforce Tata’s role as a strategic partner in India’s AI ecosystem.
The company will be expanding this year with the addition of NVIDIA Blackwell GPUs, to remain at the forefront of AI cloud services.
#4 Rashi Peripherals
Next on the list is Rashi Peripherals.
Rashi Peripherals ICT products including router, adapter, RAM, camera, gaming and graphic cards, power supply and more.
Rashi Peripherals Financial Snapshot (FY20-24)
| (Rs m, consolidated) | FY20 | FY21 | FY22 | FY23 | FY24 |
| Net Sales | 39,357 | 59,250 | 93,134 | 94,543 | 110,947 |
| Net profit | 401 | 1,364 | 1,825 | 1,233 | 1,439 |
| Return on Equity (%) | 17.0 | 34.6 | 31.7 | 17.6 | 9.3 |
| Return on Capital Employed (%) | 35.9 | 45.6 | 46.9 | 34.7 | 19.5 |
Source: Equitymaster
In the last few years, Rashi Peripherals profitability has remained inconsistent.
For the December 2024 quarter, the company reported a net profit of Rs 308 m, up from Rs 255 m a year back.
Rashi Peripherals can benefit from the Indian government’s semiconductor push, mainly through local manufacturing focus and investment in research and development (R&D).
The current policy environment supports Rashi Peripherals’ expansion in semiconductor and AI-related product distribution, enabling it to capitalise on the growing domestic production and demand for advanced technology components.
#5 Orient Technologies
Next on the list is Orient Technologies.
Orient Technologies is an Indian IT solutions company. It specialises in delivering comprehensive IT infrastructure, cloud, cybersecurity, data center solutions, and managed services to a diverse clientele including banking, pharmaceutical, manufacturing, and small to medium enterprises.
Orient Technologies Financial Snapshot (FY21-24)
| (Rs m, consolidated) | FY21 | FY22 | FY23 | FY24 |
| Net Sales | 2473 | 4674 | 5351 | 6029 |
| Net profit | 1 | 335 | 383 | 414 |
| Return on Equity (%) | 0.2 | 35.6 | 29.7 | 23.6 |
| Return on Capital Employed (%) | 3.6 | 47.5 | 40.4 | 32.2 |
Source: Equitymaster
Orient Technologies has shown consistent growth in net profits over the last few years. Net profits for the quarter ending December 2024 surged to Rs 126 m from Rs 108 m in the corresponding period of last year.
Orient technologies can take advantage of this ecosystem to make GPUs accessible to academics, startups, MSMEs, and public sector agencies, to offer this ecosystem to offer AI-Enabled IT solutions, digital transformation services and cloud migration support.
Going forward, Orient Technologies continues to enhance its IT infrastructure solutions, including data center services and end-user computing, alongside expanding cloud and data management services such as cloud migration, analytics, and cybersecurity.
The doubling of outlay for GBU capacity under the national AI mission is certain to benefit the company.
Conclusion
India’s plan to nearly double its GPU capacity to 29,000 units under the National AI Mission is set to deliver broad-based benefits across the technology and business ecosystem.
Industries such as healthcare, education, finance, and manufacturing can utilise enhanced GPU capacity to deploy AI-driven solutions for diagnostics, personalised learning, fraud detection, automation, and more.
With India’s data center capacity growing strongly, companies in cloud computing, storage, and IT infrastructure will benefit from the surge in demand for GPU-powered services. This opens up new revenue streams and business models, such as GPU-as-a-Service.
To sum up, India’s doubling of GPU capacity is a strategic move that will empower companies across the spectrum-from startups to large enterprises-to innovate, scale, and compete globally in AI, data science, and digital transformation.
The initiative not only strengthens computational infrastructure but also catalyses a vibrant, self-reliant tech ecosystem.
Investors should evaluate the company’s fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.
Happy investing.
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