New Delhi, March 2 -- Interest in India is beginning to return among global investors, but the money hasn't followed yet.

That gap between curiosity and capital reflects a simple reality: investors still see stronger earnings momentum elsewhere, said Anup Maheshwari, co-founder and chief investment officer of 360 ONE Asset, which managed assets worth Rs.47,185 crore as of December 2025.

Some global investors are reallocating from the US to Europe, and emerging markets (EMs) have benefited from potential US outflows. Normally, that would translate into flows for India. Instead, investors remain underweight, preferring markets where earnings upgrades are more visible, Maheshwari said.

For now, investors see little risk in staying underwe...