Prashant Paroda, Portfolio Manager Emerging Markets, Allspring Global Investments, said the key issue for global markets is whether the Nvidia-led AI capex cycle has peaked; if the AI trade plateaus, India could benefit due to steady earnings growth and more reasonable valuations. He remains cautious on Indian IT until growth improves, but expects India to attract investor interest by 2026 as US capex moderates and foreign flows return, adding that his fund is selectively buying Indian financials.
