Goldman Sachs, in a research note, pointed out that they believe, “AI, China, and India are key areas that offer opportunities in 2026 for active investors able to navigate the diverse landscape.” According to their analysis the emerging market (EM) equities clocked their strongest performance in 8 years in 2025. Moving forward, there is a “clear future earnings visibility” led by artificial intelligence. Despite a slow performance, they expect India’s earnings to also rebound in FY27.