New Delhi, Jan. 7 -- Strong demographics, political stability and rising manufacturing exports make India one of the most compelling long-term equity stories globally in 2026, highlighted a report by Mackenzie, a global asset manager.

The report noted that Indian equities, which were flagged as attractive for the long term in 2025 but expensive in the short term, have largely gone through a phase of valuation-driven consolidation.

According to the assessment, the recent lag in Indian markets has been primarily about valuations rather than a deterioration in fundamentals.

It stated "The Sensex Index was at 24 times earnings a year ago, and it's now closer to 20 times, which is much more reasonable".

The report stated that India's price...