Growth Drivers in 2026

Current surge is being greatly fueled by structural economic shifts and a "behavioral reset" among Indian investors.

Startup & Tech Ecosystem: Nearly 30 percent of new HNIs owe their fortunes to technology, fintech, and startups.

Manufacturing Renaissance: Government initiatives like 'Make in India' and PLI schemes have turned manufacturing into a major wealth driver, contributing 21 percent to the ultra-wealthy economy.

Equity & Capital Markets: The Indian stock market has seen wealth from equities grow by 18 percent year-on-year, attracting first-generation affluent investors.

Geographic Expansion: Wealth creation is no longer confined to metros; Tier-II and Tier-III cities (e.g., Jaipur, Pune, & Indore) are emerging as new wealth hubs due to digital access and entrepreneurship.

Looking ahead to 2026 and beyond, defensive sectors like healthcare, utilities, and consumer staples continue to offer resilience in a dynamic market. Among these, healthcare stands out as particularly attractive right now—many quality stocks in the sector are trading at compelling valuations, offering an opportunity to buy into long-term structural growth at a bargain. - By Ankit Patel, Partner, Arunasset Investment Services