Bengaluru, February 16, 2026, 00:23 IST
- Zoho co-founder Sridhar Vembu brought back his “East India Company” comparison for Big Tech in an X post.
- That comment came as Alphabet’s swift, multi-currency debt sale—and its unusual 100-year bond—were back in focus.
- Vembu’s remarks tap into the ongoing debate around “technology sovereignty,” a topic gaining traction as AI investment ramps up.
Sridhar Vembu, co-founder of Zoho Corporation, brought back his “East India Company” comparison for Big Tech this day, posting on X to say the industry is “bigger than most sovereign nations.” Moneycontrol
The comment comes as the largest tech players are ramping up borrowing to bankroll a wave of artificial intelligence (AI) infrastructure—data centres, chips, networks—moving at a pace that outstrips most government capital efforts.
Alphabet, the parent company of Google, tapped markets for $31.51 billion this week, issuing bonds in U.S. dollars, sterling, and Swiss francs. Demand hasn’t cooled off for these debt offerings from top cloud and AI players. But Julia Khandoshko, who heads broker Mind Money, flagged what she called a notable omission—fewer safeguards for bondholders this time around.
Vembu’s Feb. 14 post stopped short of naming any specific company, but it was a reply to a message citing Alphabet’s lightning-fast $32 billion debt raise in just about a day—plus the use of a 100-year bond. The move was contrasted with the more sluggish pace of sovereign borrowing in India, according to the Times of India.
Vembu frames his position around “technology sovereignty,” pushing the idea that countries should retain control over critical digital infrastructure like cloud services and communications platforms. Back in January, according to Mint, he voiced comparable views, highlighting France’s decision to ditch Zoom and Microsoft Teams in favor of its homegrown alternative, Visio. mint
The British East India Company started out trading, later turning into a force that acted much like a government in parts of Asia. Vembu uses that history as shorthand for the kind of leverage you get from controlling digital infrastructure—data, key software platforms, the networks businesses depend on.
Alphabet’s latest bond sale featured a 100-year sterling “century” tranche—something you usually see from governments, not companies. According to Reuters, it’s the tech sector’s first century bond since Motorola issued one back in 1997. Jason Granet, chief investment officer at BNY, called the ultra-long debt “representative” of the scale of today’s capital spending. Reuters
Still, pursuing sovereignty isn’t straightforward. Swapping long-established foreign platforms often drags on for years, racks up higher costs than projected, and throws a wrench into daily operations—especially for governments and firms whose existing processes rely on U.S. cloud and software infrastructure.
Back in January, Vembu pushed the idea that “the very definition of a sovereign nation should now include technology sovereignty.” He cautioned that depending on overseas platforms could turn into a lasting economic and security threat. India Today
Zoho, the private enterprise software firm, goes up against big global names in business apps and cloud. Vembu’s remarks land right in the middle of a familiar tension: dominant platforms offer ease, but there’s an increasing drive—in boardrooms and government halls—to hold onto more control domestically.
