27 November 2025 India Strategy India Strategy: Is India set up for an outperformance? Venugopal Garre +65 6326 7643 venugopal.garre@bernsteinsg.com Nikhil Arela +91 226 842 1482 nikhil.arela@bernsteinsg.com If the markets have been bad for two years, this could be the year to expect bumper returns (or vice versa) - this is a popular line of thinking loosely based on the law of averages. But does it work in real world with the markets? Our note delves into this as well as tracking Indian market performance ...