VanEck·2026-05-23·via All Articles on Seeking Alpha
Summary
Indian businesses have grown their underlying net worth consistently for two decades, through every crisis and market cycle.
India has always traded at a premium to broader emerging markets and has earned it; today, that premium is near a 20-year low.
The risks are real but well understood, and a decade of policy reform has reduced India’s sensitivity to the most significant one.
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India has compounded book value through every crisis for 20 years. That quality now trades at a near 20-year relative discount to broad emerging markets.
What 20 Years of Corporate Book Value Growth Tell Us
