India Risks Losing Global Capital in 2026 Amid EM Boom: Marcellus Expert

• India faces competition for global capital in 2026 due to valuation premium and softer earnings growth, despite strong foreign flows into other emerging markets.
• Arindam Mandal of Marcellus Investment Managers highlights that India saw significant equity selling while other EMs boomed in 2025.
• US Federal Reserve's monetary easing cycle is unlikely to be smooth, with risks of inflation re-ignition from aggressive cuts.
• For 2026, selectivity will be key in the US market, with opportunities beyond mega-caps and a balanced approach to the AI trade.
• Gold remains a strategic allocation for portfolio resilience, and inflation beneficiaries could perform well in 2026.

Why It Matters: India must improve earnings growth to attract global capital in 2026 amidst EM boom and US market shifts.