Indian equity benchmarks, including the Nifty 50 and BSE Sensex, concluded 2025 with positive returns, gaining 10.5% and 9.1% respectively. However, analysis of rolling returns indicates that 2025 added to absolute gains without significantly accelerating long-term compounding. Annualized returns over ten and thirty years remain within the 11-13% range, suggesting a continued moderation rather than a new growth phase for Indian equities.