This is the Peacock Tarantula, a critically endangered type of spider from central-southern India. It lives only in a reserve forest in Andhra Pradesh, which according to Wikipedia is "nonetheless highly disturbed." The first specimen was found in a railway timber yard in Gooty after most likely hitching a ride by train. The bright colors they possess are probably to ward off predators. They only turn blue once they mature. They are afraid of light and will run away from things that scare them, but will bite if provoked. Females can live up to 15 years but males only live up to 4. Some people keep them as pets.