Investment Special: The economy, sputtering at 4.5 gross domestic product GDP growth at last count the IMF pegs India’s 2019 growth at 4.8, shows little signs of a major recovery, but the benchmark equity indices—the S&P BSE Sensex and the Nifty 50—gained 13.8 and 11.5, respectively, last year, befuddling market watchers. In such times, while investors may be attracted by the rising indices, prudence will demand a close, hard look at the fundamentals and a safety-first approach to investing. The Fortune India Investment Special, then, comes to you at a time when investors need good, sound advice on investment options, and pointers to how the markets are likely to behave in 2020 and beyond. The cover story takes a detailed look at the investment philosophy of one of the world’s best-known private equity PE firms, the U.S.-based Warburg Pincus, which has been operating in India for over 25 years, partnering some of the country’s tallest entrepreneurs and business leaders. This Investment Special aims to give readers—and potential investors—a broad view of how the various markets have behaved, and what is likely to be the trajectory in the coming year. Some of the biggest and sharpest minds in the investing world share their strategies with us, and tell us what they see as the road ahead. With the Narendra Modi government in Budget mode, these strategies are all the more relevant.