Amundi CIO Highlights India’s Investment Potential Amid AI Market Shift

Vincent Mortier, Deputy CEO and Group Chief Investment Officer at Amundi, has indicated that the current global enthusiasm for artificial intelligence (AI) may be slowing down, potentially shifting investor interest back towards India. This change comes as markets begin to reevaluate the rapid surge fueled by AI stocks.

Mortier pointed out that despite the intense focus on AI-related companies and the accompanying geopolitical uncertainties, India remains an often overlooked but fundamentally strong emerging market. He emphasized India’s solid economic growth, prudent fiscal management, and reasonable market valuations as factors that make it an attractive destination for investors.

"India is a very interesting proposition because of good growth, sound finances and valuations that are no longer expensive," Mortier remarked. Although AI is expected to continue reshaping various sectors and economies, he warned that some earnings growth projections and revenue expectations linked to AI companies might be too optimistic. This could lead investors to adjust their portfolios and look for opportunities beyond AI-centric stocks.

Amundi’s investment strategy reflects this perspective, as the firm maintains an overweight position in emerging markets, especially in India and China. Mortier mentioned that the firm allocates between 8 and 10 percent of its portfolio to each of these countries, exceeding their benchmark weights. This approach demonstrates confidence in the long-term potential of these markets despite short-term market dynamics.

In addition to highlighting India’s macroeconomic strengths, Mortier advocated for a larger representation of Indian companies in global benchmark indices. He also shared a personal investment detail, revealing that roughly 10 percent of his own equity portfolio is invested in India via a Nifty-linked exchange-traded fund (ETF). This personal stake underlines his conviction in India’s market prospects.

The broader context of this outlook involves a global investment environment that has been captivated by AI technologies. Over recent years, AI-focused equities have experienced significant gains as businesses integrate AI to improve efficiency and open new revenue streams. However, as excitement matures, investors are increasingly scrutinizing valuations and realistic growth potential.

Emerging markets like India are benefiting from this shift. India’s economy is among the fastest-growing in the world, supported by a young population, expanding middle class, and ongoing structural reforms. These elements contribute to a favorable investment climate that could provide a counterbalance to technology-driven market bubbles.

Amundi’s stance reflects a wider trend among global asset managers who are diversifying away from concentrated AI bets to include countries with strong fundamentals and growth prospects. As such, India’s prominence on the investment map is poised to strengthen, potentially leading to increased foreign capital inflows and a reassessment of its role in international portfolios.

This perspective was shared publicly on October 11, 2026, and aligns with a growing narrative that while AI will remain an important force, broader economic factors and diversified opportunities are critical for sustainable investment returns.