India ETF Flows: Q4 2025 and Full-Year 2025 Review

India’s ETF market saw strong momentum in 2025, highlighting the growing adoption of passive investing among investors. Shifts in asset-class demand, evolving provider dynamics, and changing portfolio preferences played a key role in shaping flows throughout the year. This Morningstar Manager Research report analyzes the latest developments in the India ETF landscape, examining where investors are allocating capital and how market structure continues to evolve.

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