India set for earnings-led comeback in 2026, foreign flows may return, says Timothy Moe of Goldman Sachs

January 26, 2026

Goldman Sachs’ Timothy Moe expects India to stage an earnings-led comeback in 2026, with MSCI India earnings growth seen at 15%. Valuations are expensive but defensible, limiting upside from re-rating. A recovery in earnings, domestic consumption, financials and policy support could help revive foreign investor interest later in the year.

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