The development has surprised many because India has more listed companies, a far larger economy by scale, a population of over 140 crore people, and one of the world’s fastest-growing retail investor bases.
Unlike Taiwan, India does not yet have globally dominant listed semiconductor or AI hardware companies attracting large international capital flows.
Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, said the market shift reflects where global money is moving right now.
“One thing is always price. Stocks are slaves to earnings. In the medium to short term, there is earnings contraction in India and rising energy prices have created pressure on the economy,” he said.
The company manufactures advanced chips used by , Apple, Advanced Micro Devices, and Qualcomm. As artificial intelligence became the biggest global investment theme, investors rushed into semiconductor and AI-linked markets, disproportionately benefiting manufacturing hubs such as Taiwan and South Korea.
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