India, Sept. 21 -- India is growing much faster than Brazil and Thailand, corporate earnings are accelerating again, and its long-term growth outlook remains stronger. Even so, foreign investors sold a record $24.6 billion of Indian equities in 2026 through August. Over the same period, they remained net buyers of roughly $1.6 billion in Thailand, while Brazil had a positive foreign-investor balance of around R$22.2 billion by early September.

On those measures, the three markets offer very different propositions. India combines superior growth with premium valuations. Brazil has weaker growth, but equities are extremely cheap, dividends are high, the market has substantial commodity exposure and interest rates are falling. Thailand also...