India's premium has almost entirely disappeared now: Ben Powell, BlackRock

BlackRock's Ben Powell said India is turning more constructive tactically, noting that India's valuation premium versus other emerging markets has almost entirely disappeared after two years of underperformance. He expects foreign flows to return to India as the AI super boom and energy shock that weighed on Indian equities ease, potentially creating a virtuous circle. Powell also flagged that the recent sell-off in Indian IT stocks looks indiscriminate and somewhat oversold, while BlackRock remains overweight US equities and underweight long-duration US government bonds.