A massive, AI-driven structural rotation is reshaping emerging market equities, triggering record foreign capital flight from India toward East Asia’s tech manufacturing hubs. Global funds have dumped nearly $24 billion of Indian equities so far this year, chasing a relentless artificial intelligence (AI) boom that has already allowed Taiwan to overtake India as the world's fifth-largest stock market. Now, South Korea looms as the next powerhouse poised to eclipse Mumbai, as major brokerages aggressively upgrade Seoul's market targets while warning that India’s lack of direct tech hardware exposure will leave its foreign inflows muted for years.