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Navneet Munot & Radhika Gupta On Why Uncertainty Isn't An Exception Anymore

Author

Govindraj Ethiraj
June 06, 2026

Good Evening. We hosted the latest instalment of our Navigating Market Risk briefing series on Tuesday morning in Mumbai, against a backdrop of shifting global macroeconomic currents and domestic market shifts. 

The Core, in partnership with the EDGE Community, organised this roundtable behind closed doors at The Quorum.

The turnout spoke volumes about the current anxieties — and appetites — of India's financial elite. 

We received more than 200 registrations. The demand for unvarnished, high-level dialogue has rarely been more palpable in an investment environment increasingly defined by geopolitical friction and evolving regulatory frontiers.

Stewarding Rs 12 Trillion

Our two keynote panellists require little introduction to observers of Indian capital markets:

  • Navneet Munot serves as the Managing Director and Chief Executive of HDFC Asset Management.

  • Radhika Gupta serves as the Managing Director and Chief Executive of Edelweiss Mutual Fund.

These two leaders steward close to Rs 12 trillion ($144 billion) in assets between them—representing a massive cross-section of the subcontinent's retail and institutional capital.

They brought a refreshing exercise in institutional candour rather than corporate caution to the table. 

Their unguarded insights offered our granular audience a rare, clear-eyed look at where the smart money is moving—and where the structural risks are hiding.

A few points that stayed with me

We are living through four simultaneous super-cycles

Navneet’s frame: defence spending, supply chain re-localisation, energy transition, and AI infrastructure will drive a sustained global investment cycle regardless of the geopolitical noise above it. The headlines are turbulent. The underlying current, he believes, is not.

Diversification is not a strategy it’s a survival instinct

Radhika made the case that Indian portfolios carry far more concentrated risk than most investors realise  single-country, single-asset, single-cycle exposure. True resilience, she argued, comes not from picking the right bet, but from ensuring no single bet can end your flight.

The larger takeaway

Uncertainty is not the exception anymore it is the condition. 

Investors and business owners who will navigate it well are those who have stopped waiting for clarity before making decisions, and instead built portfolios, businesses, and thinking that can absorb surprises without breaking.

If you weren’t in the room this time, we hope you’ll be at the next one.

Our next session in the series will look at another important part of Navigating Market Risk

Pre-register here: Navigating Market Risk

Govindraj Ethiraj,

Editor, The Core

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