India, US remain key markets for global investors; manufacturing exports could be next growth engine: Experts

summit

• India and US offer strong long-term returns for investors
• Global diversification and thematic investing are key strategies
• Manufacturing exports may drive India's future growth

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India and the United States remain among the few large markets capable of delivering strong long-term returns, while global diversification and thematic investing will be critical for investors seeking the world’s best growth opportunities, experts said at the Moneycontrol Global Wealth Summit 2026.

Speaking at a panel titled “Seizing the World’s Best Growth Opportunities: What to Buy, Where to Play, How to Win,” Saurabh Mukherjea, Founder & CIO, Marcellus Investment Managers, said that only a handful of large economies have historically delivered consistent double-digit dollar returns to investors.

“Only two large markets consistently deliver double-digit dollar returns, the United States and India,” he said, adding that the US is currently slightly ahead in terms of market depth and innovation.

Mukherjea also highlighted a structural shift underway in India’s economy. According to him, India may gradually transition from a consumption-led growth model to one driven more by manufacturing exports as global supply chains diversify away from China.

“Manufacturing exports could become India’s next major growth engine,” he said, noting that factors such as trade agreements, currency movements and global demand for diversified supply chains could support the transition.

Abhishek Tiwari, CEO, PGIM India Mutual Fund, emphasised the importance of global diversification, noting that innovation-led sectors often emerge outside domestic markets.

“To capture innovation, investors need to look beyond India. The US remains a hotbed of innovation, but opportunities also exist in markets such as Taiwan in semiconductors and Europe in health tech,” he said.

Meanwhile, Ketul Sakhpara, CFA is Founder at BayFort Capital, cautioned investors that valuation discipline remains critical even when investing in fast-growing global themes.

“The biggest mistake investors tend to make isn’t predicting growth, it’s getting valuations wrong,” he said, adding that investors should focus on themes not available in their home markets rather than concentrating purely on geography.

Sakhpara added that sectors such as mobility, health technology and artificial intelligence could emerge as some of the fastest-growing global investment opportunities in the coming years.

The discussion highlighted that while India continues to offer predictable growth prospects, global diversification and thematic investing will play an increasingly important role in capturing the next wave of wealth creation.