JPMorgan upgraded India’s rating to ‘overweight’ from ‘neutral’ citing seasonal impact of elections to the Lok Sabha, India’s Lower House of Parliament, and because of the country’s strongest growth among emerging markets.
According to BQ Prime, the rating agency has advised investors to use near-term correction/dip as an opportunity to add and leverage on a positive historical seasonality to India’s nationwide general elections in 2024.
Citing demographic trends and infrastructure investment needs, JPMorgan said India also offers the “strongest EM GDP compounding”.
A deeper domestic bond market should support lower risk premia, it noted. India has competitive risk-adjusted returns to developed market equities, it added.
A deeper domestic bond market should support lower risk premia, it noted. India has competitive risk-adjusted returns to developed market equities, it added.
Last updated: December 26th, 2025
