Despite slowing earnings growth, India seen as a safe equity haven amid global shifts

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“I’ve never believed there’s a time when there’s nothing worth buying—whether in India or anywhere else," says Swanand Kelkar, managing partner, Breakout Capital Advisors, who has been a stock picker for over two decades. Nonetheless, he thinks finding compelling ideas in India has become tougher, especially given how well stocks have performed. Growing doubts about US growth have sparked a shift in global capital, with India emerging as a key beneficiary. At its peak, the US comprised nearly 70% of the MSCI All Country World Index, highlighting extreme concentration. As that narrative weakens, flows are diversifying, and India is seen...