India ETFs saw inflows moderate in Q2 2026 following a record first quarter, while total assets under management climbed to a new high. The quarter marked a shift in leadership back to equities as precious-metals inflows normalized, with large-cap ETFs emerging as the leading category.
This report examines investor allocation trends across the India ETF market during Q2 2026. It analyzes flows across asset classes and categories, highlights the top ETFs by inflows and outflows, and reviews how competitive dynamics among ETF providers continue to evolve as the market matures.
A key theme this quarter is the resurgence of large-cap ETFs, which overtook precious metals as the highest-flow category, alongside continued weakness in fixed-income ETF demand.
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