India, Dec. 29 -- India has entered its most powerful wealth-creation phase, as the equity markets added an unprecedented Rs 148 trillion in value over the last five years. The economy is poised for a multi-trillion-dollar expansion over the next two decades, according to the latest annual wealth creation study by Motilal Oswal Financial Services. It tracks wealth creation across Indian equities since 1996, and states that the 2020-25 period marked the strongest phase in its history, helped by a sharp post-pandemic rebound in the stock markets, financialisation, and better and improved corporate earnings and profitability.

The report shows that the top 100 wealth-creating firms added INR148 trillion in market capitalisation between March...