India enters 2026 with a mood of mild alertness rather than euphoria or anxiety, despite steady growth, manageable inflation, and improved corporate finances. The previous era of easy global tailwinds like cheap money and expanding trade is fading. Markets learned liquidity is not guaranteed, and corporate leaders found ambition requires more than just optimism. Governments face complex challenges including geopolitics and climate change, alongside voter awareness. The year 2025 highlighted market complexities, with indices showing gains while most individual stocks declined, forcing investors to rely on fundamental analysis.