India’s growth story is quietly changing shape. The next leg is being driven not only by large corporations or global inflows but by thousands of small and medium enterprises finding their way into the formal economy.

What used to be a scattered, largely unorganised ecosystem is turning into one of the country’s most investible growth segments. From mutual funds and private-equity houses to retail investors and global venture pools, capital is steadily tilting toward India’s mid-market companies. The shift isn’t a passing phase. It reflects deeper forces, the formalisation of business, easier access to finance, and a more transparent marketplace.

Precious metals hit fresh peaks on Friday, with the yellow metal hitting Rs 1,13,800 per 10 grams, and silver crossing Rs 1,32,000 per kilogram in Delhi. The surge in the prices of gold and silver comes amid strong global demand and heightened expectations of an interest rate cut by the US Federal Reserve next week. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity extended gains for the fourth straight session by jumping Rs 700 to hit a record high of Rs 1,13,800 per 10 grams (inclusive of all taxes). It had closed at Rs 1,13,100 per 10 grams in the previous market session.

Ankit Patel, Partner and Co-founder at Arunasset Investment Services, describes in an interview with us on how recent India-US trade talks on tariffs have been stalled because Washington has insisted on gaining access to India’s farm, dairy, and fisheries markets, something India continues to be reluctant to open up. But even under US pressure, including high tariffs, political realities particularly over Russian oil purchases complicate matters. Patel says tariff choices under the current US administration sometimes go against conventional policy logic, making trust a two-way street tricky.