New Delhi, Aug. 21 -- For nearly two years, Indian equities have lagged a world captivated by AI and semiconductors. In the Mint Money Guru series, Jay Kothari, ED and international business head, DSP Asset Managers, explains why that underperformance could set up a reversal-and what retail investors should watch as a wave of IPOs approaches.

It is going to be acting like an AI hedge because over the last two years, India has significantly underperformed the emerging markets and the world markets. In the last one year, it's been almost 40% underperformance compared to emerging markets, and in the last two years, cumulative underperformance has been almost 70%, which is something we have never seen before.

Hence, whenever this mean rever...