{"id":207280,"date":"2025-08-25T08:00:09","date_gmt":"2025-08-25T08:00:09","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/?p=207280"},"modified":"2025-08-27T13:10:46","modified_gmt":"2025-08-27T13:10:46","slug":"still-compounding-indias-structural-momentum-amid-market-noise","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/region\/asia\/still-compounding-indias-structural-momentum-amid-market-noise\/","title":{"rendered":"Still Compounding: India\u2019s Structural Momentum amid Market Noise"},"content":{"rendered":"\n<p>Originally Posted 22 August, 2025 &#8211; <a href=\"https:\/\/www.wisdomtree.com\/investments\/blog\/2025\/08\/22\/still-compounding-indias-structural-momentum-amid-market-noise\">Still Compounding: India\u2019s Structural Momentum amid Market Noise<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-takeaways\">Key Takeaways<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Despite underwhelming index-level returns in 2025, India is on track for a record IPO year, signaling deepening market institutionalization and resilience beneath the surface.<\/li>\n\n\n\n<li>A surge in domestic equity inflows and evolving household investment behavior is reshaping India\u2019s market dynamics, providing long-term valuation support even amid foreign outflows.<\/li>\n\n\n\n<li>For investors seeking more durable exposure to India\u2019s growth engine, strategies like the <a href=\"https:\/\/www.wisdomtree.com\/investments\/etfs\/equity\/epi\" target=\"_blank\" rel=\"noreferrer noopener\">WisdomTree India Earnings Fund (EPI)<\/a>\u00a0offer a compelling alternative to cap-weighted benchmarks skewed by short-term performance swings.<\/li>\n<\/ul>\n\n\n\n<p>The Indian equity market in 2025 hasn&#8217;t quite captured headlines like China&#8217;s tactical rebound or the broader emerging markets resurgence. On a relative basis, India looks like it&#8217;s taking a breather. But under the surface, it&#8217;s anything but stagnant. From a fundamental investor&#8217;s lens, this is precisely when narratives get dislocated from reality\u2014and when forward-looking capital should be sharpening its focus.<\/p>\n\n\n\n<p>Think of what&#8217;s happening as a shift, not a stall. The <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#Nifty 50\">National Stock Exchange Fifty Index<\/a> is up roughly 3% year-to-date, a modest showing in comparison to benchmarks like the <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#msci-emerging-markets-index\">MSCI Emerging Markets Index<\/a>, up closer to 20% over the same period.<sup>1<\/sup> This isn&#8217;t a time to lose confidence in the India story\u2014it&#8217;s a time to adjust expectations with the long-term in mind. Beneath the index-level quiet, capital markets are alive. India is pacing toward a record IPO year, with more than $6.7 billion raised so far\u2014surpassing even the same period last year. Domestic appetite is deep, and post-IPO performance has been encouraging.<sup>2<\/sup> This isn&#8217;t speculative froth; it&#8217;s institutionalization in motion.<\/p>\n\n\n\n<p>Looking to figure 1:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The Best Performers Are the Least Represented<\/strong>:In 2025, for the first half of the year, the top-performing emerging markets\u2014like Greece (+83.05%), Poland (+59.97%) and Colombia (+71.44%)\u2014carried very little exposure<strong> in the MSCI <\/strong><strong>Emerging Markets Index<\/strong>, highlighting a sharp disconnect between performance and representation.<\/li>\n\n\n\n<li><strong>The <\/strong><strong>Biggest Market Exposures<\/strong><strong> Are Lagging<\/strong>: Despite comprising more than <strong>80% of the MSCI EM Index weight<\/strong>, the top five markets by weight (China, Taiwan, India, South Korea, Brazil) have significantly <strong>underperformed<\/strong><strong>some of the <\/strong><strong>aforementioned smaller<\/strong><strong> exposures.<\/strong><\/li>\n\n\n\n<li><strong>A Tough Relative Period for India&#8217;s Equities?<\/strong> Investors anchored to India&#8217;s long-term fundamentals may feel whiplashed in 2025\u2014seeing a little more than a 1% return, while the MSCI Emerging Markets Index, powered by peripheral outperformers, surged ahead. But that discomfort stems not from flawed conviction, but from <strong>a benchmark temporarily disconnected from the structural growth engine they actually own<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Figure 1: <\/strong><strong>The Disconnect: 2025&#8217;s Top EM Performers Hold Little Index Weight<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" data-src=\"https:\/\/www.wisdomtree.com\/investments\/-\/media\/us-media-files\/blog\/blog-images-2\/2025\/august\/still-compounding-indias-structural-momentum-amid-market-noise\/figure-1.jpg\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/figure>\n\n\n\n<p>Source: MSCI. Performance is YTD 2025, through 8\/18\/25. Weight is as of 7\/31\/25. Any market labeled &#8220;no&#8221; has a weight less than 4.06%, Brazil&#8217;s weight as the fifth-largest market exposure in the Index. Bold type notes weight within the top five market exposures of the MSCI Emerging Markets Index as of 7\/31\/25. <strong>Subject to change.<\/strong><\/p>\n\n\n\n<p><strong>India&#8217;s <\/strong><strong>Household Balance Sheets Are Evolving\u2014Fast<\/strong><\/p>\n\n\n\n<p>There&#8217;s a quiet revolution underway in how Indian households allocate capital. We talk often about the U.S. 401(k) moment\u2014India is building its own version. With more than $42 billion in year-to-date domestic fund inflows dwarfing $8 billion in foreign outflows, the marginal buyer of Indian equities is no longer an offshore account manager in Singapore or London\u2014it&#8217;s a domestic retail investor with a growing systematic investment plan (SIP) account,<sup>3<\/sup> tax incentives and mobile-first access to capital markets.<sup>4<\/sup><\/p>\n\n\n\n<p>This shift matters. It builds resilience. It creates a funding base that doesn&#8217;t get spooked by short-term geopolitics or a bad U.S. <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#consumer-price-index\">consumer price index (CPI)<\/a> print. And more importantly, it lays the foundation for long-term valuation support. <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#price-to-earnings-ratio\">Price-to-earnings (P\/E) multiples<\/a> across discretionary and retail sectors are running below historical averages\u2014even with robust <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#return-on-equity\">return on equity (ROE)<\/a> and earnings growth outlooks.<sup>5<\/sup><\/p>\n\n\n\n<p><strong>GST Reform as a Market Catalyst<\/strong><\/p>\n\n\n\n<p>India&#8217;s macro toolkit is hitting stride. A decade ago, CPI inflation and oil imports would have dictated the market&#8217;s every move. Today, the Reserve Bank of India has defanged volatility through inflation targeting and policy credibility. The result? A smoother glidepath for interest rates and, by extension, market multiples. Fiscal prudence hasn&#8217;t meant austerity\u2014it&#8217;s meant a redirection toward capex, infrastructure and productivity.<\/p>\n\n\n\n<p>The next major shift is likely to come through <strong>Goods and Services Tax (GST) reform<\/strong>. Nearly a decade after its introduction, policy makers are preparing the system&#8217;s next iteration\u2014simplifying rate structures and reducing today&#8217;s patchwork of slabs into a more streamlined two- or three-tier model. For companies, this means lower compliance costs, greater clarity in planning and a more predictable investment environment. For consumers, it translates into fewer distortions across categories and a smoother national marketplace.<\/p>\n\n\n\n<p>Equally important is the rise of<strong> digital integration and enforcement<\/strong>. The government has been piloting real-time invoice matching, e-way bill harmonization and AI-driven fraud detection. These aren&#8217;t just efficiency upgrades\u2014they expand the formal economy, improve tax buoyancy without raising rates and strengthen the state&#8217;s fiscal resilience.<\/p>\n\n\n\n<p><strong>Markets Don&#8217;t Always Reward Strength Immediately<\/strong><\/p>\n\n\n\n<p>2025 has been a reminder: market narratives often lag fundamentals. For patient capital, that&#8217;s an opportunity, not a frustration. India is now contributing one-fifth of global working-age population growth and could account for a similar share of incremental global <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#gross-domestic-product\">gross domestic product (GDP)<\/a> by 2035.<sup>6<\/sup> Markets may get temporarily distracted by what&#8217;s happening in AI trade rotations or Chinese property rescue packages, but the underlying compounding in India is still happening\u2014with increasing clarity.<\/p>\n\n\n\n<p>The investment thesis here doesn&#8217;t hinge on this quarter&#8217;s <a href=\"https:\/\/www.wisdomtree.com\/blog\/glossary#Purchasing Managers\u2019 Index (PMI)\">PMI<\/a> print or the timing of the next Fed cut. It hinges on a regime shift: from external dependence to internal strength, from volatility to durability and from promise to scale.<\/p>\n\n\n\n<p><strong>Conclusion: <\/strong><strong>A Strategy More Aligned with India&#8217;s Long<\/strong><strong>&#8211;<\/strong><strong>Term Equity Potential<\/strong><\/p>\n\n\n\n<p>Against this backdrop of temporary performance dislocation and index concentration, investors need to ask not just <em>where<\/em> they are invested in India\u2014but <em>how<\/em>. The MSCI Emerging Markets Index remains heavily skewed toward mega-cap names and countries with large weightings but uneven fundamentals. Even within India itself, many index-linked strategies are top-heavy, overexposed to high-P\/E growth narratives and reliant on a narrow group of market leaders. This leaves portfolios vulnerable to valuation shocks and style rotations. In contrast, India&#8217;s real economic dynamism\u2014especially in 2025\u2014is increasingly powered by mid-sized firms across industrials, financials, consumer cyclicals and technology services, many of which are consistently profitable but underrepresented in capitalization-weighted benchmarks.<\/p>\n\n\n\n<p>The <a target=\"_blank\" href=\"https:\/\/www.wisdomtree.com\/investments\/etfs\/equity\/epi\" rel=\"noreferrer noopener\">WisdomTree India Earnings Fund (EPI)<\/a>&nbsp;offers a structurally differentiated solution. Designed to track the total return performance of the WisdomTree India Earnings Index, the strategy deliberately screens for <strong>profitability<\/strong>, including only companies that generate positive earnings from core operations. This earnings-weighted methodology naturally tilts exposure away from speculative high-P\/E names and allocates capital based on real business performance\u2014not market cap alone. As a result, <a target=\"_blank\" href=\"https:\/\/www.wisdomtree.com\/investments\/etfs\/equity\/epi\" rel=\"noreferrer noopener\">EPI<\/a>&nbsp;has historically delivered a more balanced blend of <strong>large<\/strong><strong>&#8211;<\/strong><strong>, mid<\/strong><strong>&#8211;<\/strong><strong> and small-cap Indian equities<\/strong>, capturing the depth of India&#8217;s economic base while mitigating valuation risk. In a year like 2025\u2014where headline returns don&#8217;t tell the full story\u2014this approach becomes particularly powerful.<\/p>\n\n\n\n<p><strong>Figure <\/strong><strong>2<\/strong><strong>: Standardized Performance<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" data-src=\"https:\/\/www.wisdomtree.com\/investments\/-\/media\/us-media-files\/blog\/blog-images-2\/2025\/august\/still-compounding-indias-structural-momentum-amid-market-noise\/figure-2.jpg\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/figure>\n\n\n\n<p>Sources: WisdomTree, FactSet, specifically data from the Fund Comparison Tool in the PATH suite of tools, accessed 7\/19\/25, with returns as of 6\/30\/25. NAV denotes total return performance at net asset value. MP denotes market price performance. <strong>The performance data quoted represents past performance and is not indicative of future results. Investment return and principal value of an investment will fluctuate so that an investor&#8217;s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end and standardized performances and to download the respective Fund prospectuses, click <a target=\"_blank\" href=\"https:\/\/www.wisdomtree.com\/investments\/etfs\/equity\/epi\" rel=\"noreferrer noopener\">here<\/a>.<\/strong><\/p>\n\n\n\n<p>It&#8217;s important to recognize that <strong>China is the single largest market within the MSCI Emerging Markets Index<\/strong>, accounting for more than <strong>2<\/strong><strong>9<\/strong><strong>% of the benchmark&#8217;s weight<\/strong>. This dominant position means that even modest outperformance by Chinese equities can significantly influence the total return of the MSCI EM Index\u2014especially when countries like India, with a nearly 17% weight, are appreciating at a slower pace. In 2025, we&#8217;ve seen precisely this dynamic at play: China has staged a tactical rebound from depressed levels, driven by a mix of policy support, improved investor sentiment and a bounce in select tech and consumer sectors.<sup>7<\/sup> Meanwhile, India&#8217;s performance, though solid in absolute terms, appears more muted in comparison. For investors benchmarking to MSCI EM, this can create a <strong>false sense of missed opportunity<\/strong>\u2014as if India is falling behind, when in fact, the composition of the benchmark is doing much of the performance lifting.<\/p>\n\n\n\n<p>But that short-term framing misses the deeper, more durable trend. As is visible in figure 3, over a <strong>3-, 5- and 10-year horizon<\/strong>, India has consistently outperformed China on both equity returns and earnings growth metrics. India&#8217;s structural drivers\u2014demographics, macro stability, domestic consumption and a reform-oriented policy regime\u2014have created a fertile environment for long-term capital compounding. In contrast, China faces persistent headwinds from demographic decline, real estate overhangs and a slower transition to consumption-led growth. So, while China may look like the performance leader in select quarters or even years, it has done so from a lower base and with greater volatility. For investors focused on sustained exposure to emerging market growth, <strong>India&#8217;s long-term leadership remains the more resilient<\/strong>,especially when paired with strategies that move beyond simple market-cap exposure.<\/p>\n\n\n\n<p><strong>Figure <\/strong><strong>3<\/strong><strong>: India&#8217;s Near-Term Underperformance <\/strong><strong>and<\/strong><strong>Longer-Term Outperformance<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" data-src=\"https:\/\/www.wisdomtree.com\/investments\/-\/media\/us-media-files\/blog\/blog-images-2\/2025\/august\/still-compounding-indias-structural-momentum-amid-market-noise\/figure-3.jpg\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/figure>\n\n\n\n<p>Sources: WisdomTree, MSCI, FactSet, specifically data from the Fund Comparison Tool in the PATH suite of tools, accessed 8\/19\/25, with returns as of 8\/18\/25. NAV denotes total return performance at net asset value. <strong>The performance data quoted represents past performance and is not indicative of future results. Investment return and principal value of an investment will fluctuate so that an investor&#8217;s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end and standardized performances and to download the respective Fund prospectuses, click <a target=\"_blank\" href=\"https:\/\/www.wisdomtree.com\/investments\/etfs\/equity\/epi\" rel=\"noreferrer noopener\">here<\/a>.<\/strong><\/p>\n\n\n\n<p>If Prime Minister Modi is successful at creating potentially positive catalysts, like GST reforms, as one example, it could unlock what we view as the underlying strength of India&#8217;s market\u2014a strength that we have not really seen for much of 2025.<\/p>\n\n\n\n<p><sup>1 <\/sup>Source: FactSet, with year-to-date measured through 8\/18\/25.<\/p>\n\n\n\n<p><sup>2 <\/sup>Source: M. Mishra, &#8220;India on track for record IPO year as equity market booms,&#8221; Financial Times, 7\/10\/25.<\/p>\n\n\n\n<p><sup>3 <\/sup>A systematic investment plan is a method or mechanism for investing in <strong>mutual funds<\/strong>\u2014specifically designed for <strong>retail investors<\/strong> to contribute fixed amounts at regular intervals (e.g., monthly or quarterly) into selected mutual fund schemes.<\/p>\n\n\n\n<p><sup>4<\/sup> Source: Mishra, 2025.<\/p>\n\n\n\n<p><sup>5<\/sup> Source: A. Menon, S. Rathi, S. Vohra and G. Varma, &#8220;India Consumer Discretionary&#8221; [investor presentation], Morgan Stanley India Company Private Limited, 7\/17\/25.<\/p>\n\n\n\n<p><sup>6 <\/sup>Source: Desai &amp; Parekh, 2025<\/p>\n\n\n\n<p><sup>7 <\/sup>Source: W. Sandlund and C. Kay, &#8220;Chinese equities rebound on policy boost and tech recovery,&#8221; Financial Times, 7\/8\/25.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite underwhelming index-level returns in 2025, India is on track for a record IPO year, signaling deepening market institutionalization and resilience beneath the surface.<\/p>\n<p>A surge in domestic equity inflows and evolving household investment behavior is reshaping India\u2019s market dynamics, providing long-term valuation support even amid foreign outflows.<\/p>\n<p>For investors seeking more durable exposure to India\u2019s growth engine, strategies like the WisdomTree India Earnings Fund (EPI)\u00a0offer a compelling alternative to cap-weighted benchmarks skewed by short-term performance swings.<\/p>\n","protected":false},"author":529,"featured_media":207282,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[151,335,146,153,148],"tags":[362,2673,1815,291,383],"contributors-categories":[457],"class_list":{"0":"post-207280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asia","8":"category-etfs","9":"category-macro","10":"category-stocks","11":"category-text-articles","12":"tag-economic-outlook","13":"tag-emerging-market","14":"tag-india","15":"tag-macro","16":"tag-stock-market","17":"contributors-categories-wisdomtree-u-s"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Still Compounding: India\u2019s Structural Momentum amid Market Noise<\/title>\n<meta name=\"description\" content=\"Despite underwhelming index-level returns in 2025, India is on track for a record IPO year, signaling deepening market institutionalization and...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-json\/wp\/v2\/posts\/207280\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Still Compounding: India\u2019s Structural Momentum amid Market Noise\" \/>\n<meta property=\"og:description\" content=\"Despite underwhelming index-level returns in 2025, India is on track for a record IPO year, signaling deepening market institutionalization and resilience beneath the surface. A surge in domestic equity inflows and evolving household investment behavior is reshaping India\u2019s market dynamics, providing long-term valuation support even amid foreign outflows. For investors seeking more durable exposure to India\u2019s growth engine, strategies like the WisdomTree India Earnings Fund (EPI) offer a compelling alternative to cap-weighted benchmarks skewed by short-term performance swings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/region\/asia\/still-compounding-indias-structural-momentum-amid-market-noise\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-25T08:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-27T13:10:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2025\/08\/india_currency-hedging.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1141\" \/>\n\t<meta property=\"og:image:height\" content=\"564\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christopher Gannatti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christopher Gannatti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"Article\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Christopher Gannatti\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/4235b441e325f87757d208d171e6770f\"\n\t            },\n\t            \"headline\": \"Still Compounding: India\u2019s Structural Momentum amid Market Noise\",\n\t            \"datePublished\": \"2025-08-25T08:00:09+00:00\",\n\t            \"dateModified\": \"2025-08-27T13:10:46+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/\"\n\t            },\n\t            \"wordCount\": 1852,\n\t            \"commentCount\": 0,\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2025\\\/08\\\/india_currency-hedging.jpg\",\n\t            \"keywords\": [\n\t                \"economic outlook\",\n\t                \"emerging market\",\n\t                \"India\",\n\t                \"macro\",\n\t                \"stock market\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Asia Pacific\",\n\t                \"ETFs\",\n\t                \"Macro\",\n\t                \"Stocks\",\n\t                \"Text Articles\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/region\\\/asia\\\/still-compounding-indias-structural-momentum-amid-market-noise\\\/\",\n\t            \"name\": \"Still Compounding: India\u2019s Structural Momentum amid Market Noise - 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