New Delhi, March 23 -- The global economic order is entering a phase of increasing geopolitical fragmentation. Trade relationships are being reconfigured, supply chains are diversifying, and strategic competition among major powers is reshaping flows of capital, commodities and technology.

For capital markets, this introduces a structural layer of uncertainty that extends beyond traditional economic cycles. Indian equities, while anchored in strong domestic fundamentals, are evolving within this shifting landscape.

The interaction between geopolitics and markets operates through multiple transmission channels. Trade barriers and regional tensions influence global growth and export demand. Geopolitical shocks affect commodity prices and ...