As we usher in Samvat 2082, optimism is gradually returning to Indian markets. The year gone by tested investor patience, with India lagging global peers despite strong domestic fundamentals. However, the stage now appears set for an earnings-led recovery. Growth momentum remains intact, supported by structural reforms, the rollout of GST 2.0, income tax relief, and an accommodative policy stance that is easing liquidity conditions. India’s GDP is projected to expand by around 6.8% in FY26 — among the fastest globally — underscoring the country’s resilient growth narrative. Valuations are reasonable, earnings downgrades have largely bottomed out, and domestic inflows continue to demonstrate remarkable strength even as foreign investors remain cautious. This creates a favorable setup for Indian equities to outperform in the new Samvat. While global headwinds such as trade frictions and slowing growth persist, India stands out as a macro-stable, liquidity-rich, and policy-supported economy. The coming year offers investors an opportunity to participate in India’s next leg of compounding, driven by revival in corporate earnings and broad-based economic expansion.

Ms. Amisha Vora, Chairperson and Managing Director, PL Capital