New Delhi, July 14 -- For decades, wealth creation in India followed a familiar script. Investors bought property, accumulated gold, parked money in fixed deposits and, over the past two decades, increasingly embraced equities.

The strong performance of Indian stocks reinforced the view that equities were the dominant engine of long-term wealth creation. But investing has never been about chasing yesterday's winners. It is about preparing portfolios for tomorrow's uncertainties-and the next decade is likely to look different from the last.

Geopolitical realignments, technological disruption, shifting interest-rate cycles, inflationary pressures, demographic changes and evolving capital flows are creating a world in which leadership amon...