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Theory Of India Underperforming Due To Lack Of An AI Story Doesn't Hold True: First Global

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First Global's Devina Mehra says India's market underperformance can't be pinned on missing AI hype — so what is actually dragging it down?

Narrative EconomicsAvailability HeuristicAttribution Bias

Theory Briefing

  • Devina Mehra of First Global directly challenges the popular claim that India's stock market lags because it has no major AI-driven companies.
  • The argument suggests investors may be misreading the real drivers behind India's relative underperformance on D-Street.
  • A muted start to trade on the day of the interview adds live context to the debate about what is actually weighing on Indian markets.